Judith Sloan FINALLY showed that the Emperor has no clothes. Instead of pussy-footing and being polite to the "developing" nations, Judith firmly wrote this:
The fact that the Chinese opted for a market-stultifying, growth-sapping path of Communist rule should [not] somehow mean that countries that pursued open, market-based strategies, when the the emitting of CO2 was not regarded as a public bad, should now be penalised. [Source]
This is the truth, the harsh truth. That the "developing" nations are pygmies in the world NOT because of the "West" (whatever that is) but because of their OWN policies. NO ONE STOPPED THEM FROM USING OPEN, MARKET BASED STRATEGIES.
We need more of this plainspeaking, and no more grovelling by the West each time it meets self-created poor people from the East who claim that the West is somehow responsible for the pathetic condition of the "East".
True, there was imperialism. True, there was a problem in the world before 1950. But that was fixed. SIXTY YEARS AGO. Two generations ago!
At that point Nehru refused to listen to Shenoy. He refused to listen to Friedman. India therefore made its RELATIVE position worse than it was before independence. The facts speak for themselves (see book chapter cited below). The SOCIALISTS OF INDIA ruined India, not the British imperialists.
Read this book chapter: "One Polity, Many Countries: Economic Growth in India, 1873-2000” by Gregory Clark, University of California, Davis and Susan Wolcott, University of Mississippi. The chapter was published in Dani Rodrik (ed.), Frontiers of Economic Growth. Princeton: Princeton University Press, 2003. [details] (download it here.)
This paper shows that though India started lagging behind the West from after 1700 or so – and kept losing ground till 1947 – it still had a per capita income of nearly 15 per cent of the West till 1930. After that its relative share collapsed to 10 per cent or less of Western income, and has REMAINED THERE since independence. The data in the paper only go till 2000 and the situation now is slightly better. But that is because we have started abandoning socialism. Not because the British imperialists were oppressing us till 1991! They had left long before that!
Because of NEHRUVIAN (Keynesian) socialism, India therefore did not achieve the economic dividend from independence that it should have.
It is time for India and China to grow up into adults and learn to take responsibility for themselves and their self-created plight. Let me add that it is is also very WRONG on their part to blame the current generation in the West for what some people in the West might have done long ago. Please grow up, India, China!
(click image for larger size).
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