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We’re for ‘socialist-type’ economic policy, says Prashant Bhushan

Discussion in 'National Politics' started by tilopa, Nov 18, 2012.

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  1. tilopa

    tilopa Lieutenant SENIOR MEMBER

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    ‘However, we will not be totally against private sector participation’

    India Against Corruption (IAC) member Prashant Bhushan on Saturday said that their political party would adopt a “socialist-type†economic policy, but would not be totally against private sector participation.

    Responding to questions while interacting with the IAC volunteers from the southern States and the general public in Bangalore, he said their party wanted to give priority to the public sector, but would not be averse to private sector participation in certain areas in which there would be competition.

    ‘Won’t allow loot’

    “[At] present, liberalisation is transferring the nation’s capital assets to the private sector in the guise of public-private-participation, which created private sector monopoly. We will not allow this kind of loot. We are not against free market, but will permit it in limited areas,†Mr. Bhushan said.

    ‘Crony capitalism’

    He made it clear that mines and minerals, oil and natural gas, land, spectrum and other natural resources would be vested with the public sector. Airports and power would be nationalised, Mr. Bhushan said and alleged that the Union Cabinet was “a puppet of crony capitalism.â€

    Mr. Bhushan pointed out that the pre-liberalisation period was criticised for its “licence raj†and it witnessed scams like the Bofors wherein kickbacks of Rs. 64 crore were allegedly given. But the post-liberalisation period was witnessing scams running into crores of rupees, and this was due to “crony capitalism.â€

    He said their yet-to-be-named party would sit in the Opposition if not voted to power and would support any party that backs its policies and agenda, like the Jan Lokpal Bill. If voted to power, the party would on priority take up the responsibility of providing basic education and employment to the people, and health facilities apart from taking up anti-corruption measures, he added.

    Checking migration

    Another priority of their party would be to take steps to ensure that people in villages got all facilities and that they did not migrate to urban areas.

    To a question on politics, caste and religion, Mr. Bhushan said it was time to save the country as no one would survive in caste and religion-based politics while pointing out that their political party would, if it succeeded in communicating this point to the people of the country.

    Mr. Bhushan said State units of IAC were taking the campaign to the block levels and would identify local issues.

    Keywords: Prashant Bhushan, IAC member, private sector participation, economic policy, South India IAC, volunteer meet
     
  2. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    I think its fair to regulate pvt players in monopolistic markets like in public utilities. Free-market socialism is the way to go for such monopolies. But, like he said, pvt players (or free-market capitalism) should be allowed in competitive markets where the forces of free-market can provide the checks and balances.

    In FDI-retail too, people against it (including some in BJP, IAC, Congress etc) are barking up the wrong tree. They should instead be concentrating on asking for strong and transparent competition regulators against predatory practices and collusion.
     
  3. Picard

    Picard Lt. Colonel RESEARCHER

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    Problem is, free market provides no checks and balances. When only forces present are human greed and stupidity, you've got yourself a big problem...
     
  4. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    It actually does - because, even in statist economies, human greed and stupidity can play spoil sport. But the biggest impediments for free markets are collusion, predatory practices (predatory pricing on consumer side and predatory payment on supplier side) and information asymmetry. In my opinion, fishing the first two out and enforcing healthy competition is as difficult as managing a state-controlled centralized economies like in statism. For info asymm, it takes time for everyone to have equal access. I have been wanting to compile a blog entry on this, but still collecting information and articles.

    Another typical confusion is people equating capitalism to free-markets, without knowing that there are free-market socialism too (all cooperatives like Amul, Aavin, IFFCO, Lijjat Papad, Indira Gandhi coop hospital, Cochin medical college etc etc etc). In fact, publicly traded companies (where gains are shared by many shareholders depending on the num of shares they hold) fall inbetween pure socialism (where gains are shared equally by every shareholder) and pure capitalism (where gains are shared only by an individual or a few who own the company)
     
    Last edited: Nov 18, 2012
  5. Picard

    Picard Lt. Colonel RESEARCHER

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    Scandinavian-style socialism is the best system, actually. State doesn't control economy per se, but it is not non-interventionist, and there are rules - on minimal pay, health insurance etc. - that capitalists have to obey.

    As for free markets, without education and transparency you can't have them. And capitalists were never interested in providing the latter... selling your product usually involves an unhealthy dose of lies, take a look at JSF programme.
     
  6. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    We have some social net (of govt hospitals and dispensaries) for health. But, a comprehensive insurance, minimal pay etc is hard to enforce (even though we do have laws on minimal pay) when a majority of workers belong to the unorganized sector (incl. agriculture) and are hard to reach. Wage laws and insurance are fairly enforced in the smaller sector of organized workers. So, organizing the unorganized sector would be the first step.

    As an aside, the number of people availing wages under NREGA (which itself provides less wage than govt's fixed minimum) has been reducing. This shows that NREGA has been acting as an induced "free-market" forcing local employers (including agri sector etc) to raise wages and hence attracting back people who left for NREGA. This rising rural wages has been cited as one reason for inflation, and the more hardcore right wing economists have been criticizing NREGA as an artificial force thats bad to free-market economy. While they may have some reason, they are also ignoring predatory practices often employed by rural landlords, and such illegal acts are hard to control by laws.
     
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  7. rcscwc

    rcscwc Major SENIOR MEMBER

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    Indira too had a socialist economy. Quota, control, shortages, EMERGENCY and MISA etc is what Bhushan wants to usher.

    Is it the same twerp who wants seperation of Kashmir?
     
    Last edited: Nov 18, 2012
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  8. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    Like I said in my comment above, all that you mention are statist policies as opposed to the liberalized economy (libertarianism) of post-1991. India, today, is as much socialist as pre-1991.

    One can have four combinations with rightist (capitalism etc) vs leftist (socialism, communism etc) and statism (state-enforced) vs libertarianism (no-state or free-market). The oft-quoted example of USSR failed because of statist communism. Many EU countries (scandinavian, germany etc) are more free-market socialists.
     
    Last edited: Nov 18, 2012
  9. rcscwc

    rcscwc Major SENIOR MEMBER

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    Then go for Modi lock, stock and barrel. The only leader who does all that.

    But we dont liberalism of Bhushan, who wants to disintegrate India.
     
  10. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    Probably I would. I would even have considered Hitler. But alas, all these men should be in jail for their acts, and I am not going to trust such criminals with PM seat. Even Rajat Gupta has proven to be a good CEO, but would any company trust him with that position once hes free?

    I support plebiscite - afterall, people should have both economic and political freedom and one cant exist without another. People should want to be with India and not because they have a gun over them. The only reason why I wouldnt support Bhushan's on kashmir is because I am quite sure that extremist ideologies would take control of kashmir once its free (and I dont support extremist ideologies - both within India or outside) like its happening to pakistan, and kashmiris are going to lose their freedom. India alone is to be blamed for such separatist tendencies in kashmir or previously in NE, punjab etc.
     
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  11. rcscwc

    rcscwc Major SENIOR MEMBER

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    Soon India will have NE going, Kerala going, WB going, Goa going.

    Are you people members of Break India Club?
     
  12. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    They will, if you have a potential PM candidate praising some one for his "courage and valor" when all that they did was beat up and kill tamils, gujaratis, muslims, UP-ites, Biharis etc etc, and a national party whose main plank to come into power was communal and hate politics. Anyway, we are deviating from the thread.
     
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  13. tilopa

    tilopa Lieutenant SENIOR MEMBER

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    All socialists are traitiors.
    In india you will always find a correlation between the muslim appeasers,terrorists etc that they all are socialists.

    These idiots are responsible for underdevelopment of India.
    India needs a free market system.Chanakya the greatest ancient indian strategist promoted a free market type economy.
    We need to just follow our ideals.

    Socialism sucks,Capitalism rocks.

    The problem today in india is not because of lack of socialism but excess of socialism.India is a crony capitalist state where the government hand in hand the corporates are involved in multi billion dollars corruption.

    Socialism is the problem.
    Free market is the solution.
     
  14. rcscwc

    rcscwc Major SENIOR MEMBER

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    Have you taken an extra glass or two?

    Nyaya system would classify your this post as VITANDAVAD.
     
    Last edited: Nov 18, 2012
  15. Kejriwal4PM

    Kejriwal4PM 2nd Lieutant FULL MEMBER

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    And people get pissed when I point out their ignorance :rolling eyes:

    I clearly mentioned, with examples, why free-markets and socialism are not opposites, and about the existence of free-market socialist enterprises!
     
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