Search Mailing List Archives
[liberationtech] Jantar Mantar Vs Tahrir Square
moritz at torservers.net
Thu Apr 14 05:12:01 PDT 2011
On 14.04.2011 13:38, Amit Agrahari wrote:
> As far as corruption in India is concerned, whom are we fighting against ?
"[...] Even as the country becomes one of the great economic growth
stories of the 21st century, significant members of the Indian elite
fear it may be following Russia in developing a kind of crony capitalism
dominated by powerful insiders. A slew of recent corruption scandals –
notably in telecommunications – has nourished anxieties that the
combination of fantastic wealth creation and weak governance threatens
to undermine India’s long-term success.
Not for nothing has Joseph Stiglitz’s Globalization and its Discontents
emerged as a favorite read among India’s supreme court judges and
policy-making classes. Attention has focused on the insights of the
former World Bank chief economist on how Russia mismanaged the
transition from communism to the free market: while a handful of people
became very wealthy, conditions for most worsened as national income
Tony Jesudasan, an aide to Anil Ambani, one of India’s most powerful
industrialists, says “judicial activists” in India are gripped with the
notion that Asia’s third-largest economy is following Russia’s example
in creating a generation of oligarchs. Prof Stiglitz’s bestseller of
almost a decade ago serves, he observes wryly, as a handbook for judges
eager to take on India’s large business families.
Twenty years on from reforms that prised open India’s economy, the
system still favors the insider. Cronyism harms India’s growth story and
frustrates multinationals from abroad, which consider India a formidable
place for those who do not know the “right people” on the inside.
Accusations of influence-peddling by powerful entrepreneurs, combined
with a colluding state bureaucracy, has led commentators such as Arun
Poorie, editor-in-chief of India Today Group, to identify corruption as
the “biggest issue” confronting the country."
More information about the liberationtech