Tejwant ji,
Gurufateh
That exactly is the point!
The Indians could have also been corrupted to the same extent it not more by the capitalistic system at that time!
Just see what happened immediately after Manmohan Singh started dismantling the permit regime. (Although that was the express need of the time).
First we had a massive stock market scam by Harshad Mehta.
Then we had the Dabhol Power Plant being set up by ENRON of guaranteed 16% return on capital with sovereign guarantee. Many distinguished experts had predicted that this was would make the profit making Maharashtra State Electricity Board bankrupt and it would further impact the finances of Maharashtra itself but the successive governments whether BJP or Congress went ahead with it because of obvious kickbacks. Many people with capitalistic leanings ridiculed the the knowledgeable and neautral experts. The result as predicted was a disaster with Board going into red and the finances of Maharashtra itself being impacted. This forced The Union of India to renegade on its sovereign guarantee inspite of George Bush threatening of dire consequences. Well what happened to Enron need not be repeated here.
To do productive business with the capitalists we require the highest degree of professionalism and maturity which the people from sub continent did not have at that time
So the timings for both the controlled system and free market was good in India.
The contrast between Pakistan and India as pointed out by you is stark.
Harbans ji,
Guru Fateh.
We may disagree on our points of view till the cows come home but that is OK because disagreements are part of the learning process.
I beg to differ with you on the timings of controlled system and free market was good for in India.
I will give you my reasons. If these mistakes with the capitalism had happened decades earlier in India, they could have been solved then and we would be thriving with the capitalistic mindset which takes time to build. We have had the great educational system to do that and the desire to strive.
The refusal of Enron was the right thing to do and hindsight proves that with what happened to Enron.
You mean our politicians were not corrupted by the Soviets?
How about the Bofors case which happened under Indira Gandhi and some claim Rajiv Gandhi made a bundle and it was the Swedes? So your argument about Indians being corrupted if US had pumped omney in India rather than in Pakistan seems a bit contradictory here.
As we are thriving now compared to the other countries because of the open system, if we had done this earlier, we could have been much ahead because the mistakes made later would have been made earlier and had been corrected by now.
Pakistan, not being a real democracy has had billions of dollars pumped into them and they are going down economically.
Gurujot Singh an American Sikh who was the pioneer in starting outsourcing in India after the gates were open tried the same in Pakistan but failed. following is an interesting read about it:
sikhchic.com | The Art and Culture of the Diaspora | The Man Who Changed India
The Man Who Changed India by KHUSHWANT SINGH
In nutshell, what I am trying to express is that what we have embraced now, if we had embraced this earlier, then all the roadblocks we are facing today would have been cleared earlier and hence we would have had a different mindset because of that today.
If Guru Nanak wanted to be an industrialist, he would have been the best in the world at the time when others were looting and pillaging each other, he would have created a vertically horizontal empire in all fields.
Fortunately He gave us tools to do our best because He was neither self centered nor selfish and the proof is in Vand kei chaknah , one of the three pillars. He did share with us what he had to offer. It is us who have refuse to heed to his advice and accept what he is sharing with us today. Only if we have the courage to apply his teachings according to his instructions, then as far as all kinds of progress is concerned, the sky is not the limit.
Tejwant Singh