The economists of Povertarianism:
Several dozen economists have been awarded Nobel prize for the their ‘contribution’ to the study of economics, in past many decades. A large number of these are from India and of these even greater number of such economists belong to State of West Bengal. Many of these economists’ first wife and children from first marriage are living in Kolkatta.
Time-travel into past:
For those who have not been to West Bengal, let me clarify, it is the poorest State of India in terms of infrastructure, per capita income, human development index and every other possible measure. So much so, if one wishes to time travel into past, one can travel to west Bengal and experience what India was about three decades earlier. Old cars, old houses, old technologies, primitive gatherings all witness to a bygone era. The Courts compounds are still bursting with typewriters. Street vendors employ same age old equipment to process and sell goods. This is in the metropolitan of Kolkatta. Try visiting nearby small town and have the real fun.
Back to future:
Ordinarily, a journey to the past must bring good experience but here it appears cause some numbing experience to the mind. All these economist, come up with fantastic theories of ‘distribution of wealth’ and assume that this will eradicate poverty. All these economist have churned out theories after theories in past several decades but nothing have worked anywhere because the empirical evidence they produce has no taker except their ‘fourth European wife’ and the prize committee of Nobel Prize. IMF and World bank like institutions often hire them as consultants to convince countries to pour borrowed milk over sand to alleviate poverty.Continue reading