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India Is Poised To Make A Quantum Leap Under Narendra Modi: Perspective Of A Political Economist

Politics / India Dec 04, 2016 - 12:26 PM GMT

By: Dr_R_M_Mathew

Politics Development of the National Economy and Welfare of the Common People or more specifically the Forgotten People - the Rural People, the Blue Color and Toiling People are the basic concern of a Political Economist. On the other hand, Corporate or Marxian or Keynesian Economists uphold a particular ideology and manipulate the economy for the sake of the Ideology or Elite, including the Left or Corporate Sector at the expense of the common people. I do belong to the category of Political Economist rather than the Corporate or Marxian or Keynesian Economists

Political Economics is dynamic in the sense it always incorporates Political as well as Technological Changes. It does not based on "ceteris paribus" or "other things being equal" or several unrealistic or impossible assumptions of the conventional economists, including Keynesian or Marxian or Corporate or Service Sector economists or the World Economic Forum.

Questioning Their Wisdom

With the coming of the Great Depression II in 2008, conventional Economics has become obsolete and Conventional Economists have become laughing stock without any solution. In a series of works, I questioned the wisdom of the Economists, including the Nobel Laureates in Economics and also of the World Economic Forum in my writings appeared in the Market Oracle (UK). They include:

23 Nov 2013 - Terrorism, Starvation and The Global Economic Crisis: Counter Strategies

16 Nov 2012 - The Fall of Micro- And Macro- Economics And The Rise Of Mega-Economics

04 Nov 2012 - The Great Depression II Lasting Till 2025

9 Feb 2009 - The Great Depression II Survival Strategies (41492 Reads)

1 Mar 2009 - Saving America from Further Crisis In The Age Of The Great Depression II (10793 Reads)

12 Mar 2009 - OPEC /GCC Countries Too Are Under the Grip of The Great Depression II of 2009 (17664 Reads)

26 Mar 2009 - Economic Stimulus Packages — The Hidden Threats (12061 Reads)

31 Mar 2009 - OPEC Must Also Bear The Pain of the Great Depression II (10891 Reads)

21 Apr 2009 - Oil, Cars and Consumerism and The Global Economic Crisis: Discussion on The Great Depression II (21694 Reads)

Dec 27, 2009- China On the Verge of a Great Crash and Its Impact on Crude Oil Price

21 Dec 2009 - Dubai - Crisis to Sustained Growth (16055 Reads)

30 Dec 2011 - Coming of the Violent Global Revolutions (14199 Reads)

28 Feb 2011 - India on the Verge of A Revolution for Corruptions (23761 Reads)

23 Feb 2011 - The Arab Revolutions and the Emergence of a New Global Social Order

22 Feb 2011 - Chinese Workers Surplus Value Makes China A World Economic Power

My latest work is : Nov 13, 2016 Trumpnomics – Reinventing Political Economy for America and Its Forgotten People and the World under Donald Trump

The Harvard Business Review also included my work on March 30, 2009 -‘Role of Business Schools in Aggravating the Global Economic Crisis' in their discussions on 'Are Business Schools to Blame'.(Pages  29-31) /…/03/are-business-schools-to-blame..

Though in the beginning, nobody had taken me seriously, later the international community has taken me seriously. Recently, the 'Young Economists Forum' of various well-known universities intimated me that they are seriously conducting studies on my works on Economics.

Supporting Narendra Modi

As a Political Economist, I support Narendra Modi and Donald Trump, though the Left and Liberals attack them. The greatest stumbling blocks for India's Development are Corruption, Black Money and Fake Money. If we can wipe out them, at least to the tune of 50%, India can outsmart America, China and the Europe.

In this regard, the War against Corruption, Black Money and Fake Money declared by Prime Minister Narendra Modi is heroic and epoch making. A good hare of the back money and hoarded money of India can be made available for Development, including Rural India Infrastructure Development, setting up and financing Starts Ups of the Talented Young Men and India. As a result, we can find out jobs for all our skilled and expert hands, besides effectively employing millions of semi-skilled men and women. Within three years, a large number of Indians working in foreign countries will come back to India which is capable of attracting the best global talents.

Problems of the Common People

Of course, when launching such kind of Bold and Heroic action, like demonetization, in a vast country like India, there must be some initial problems and crisis to the general public. Unfortunately, instead of minimizing the impacts and giving strength and confidence to the people, most of our Print and Electronic Medias and so many Political Parties and some State Governments in India have been misguiding the people and aggravating the sufferings of the Common People, including the very old pensioners. Had they been bit more mature and patriotic, over 90 % of the problems faced by Common People would have been avoided.

The Perpetrates of Corruption, Black Money and Fake Money have united against Narendra Modi exaggerating the problems and widely circulating fabricated and manipulated stories. This has made me to support Narendra Modi and I wrote an article supporting him for the international community:  29 Nov. 2016 - Prime Minister Modi's War Against Corruption, Black Money and Fake Currency Notes in India

Towards Sustained Growth

None of the earlier governments in India had the courage and will power to fight against corruption, black money and fake money except the Government under Narendra Modi though everybody was blaming these evils and stumbling blocks of India’s development. With such a surgical operation, Modi could unearth billions or trillions of Black or Hoarded money so as to use them for developmental investments and to some extent he could prevent the circulation of Fake Currency Notes brought out by enemy nations.

Within a very short span of time, the Government could collect taxes in terms of billions and the bank could mobilize trillions so as to use for developmental purposes.  As the next step, the Government plans to mobilize truck load of gold worth trillions kept or hoarded by families or individuals in the form of ornaments by issuing Gold Deposits or Gold Bonds with attractive returns.

Monitoring and Accountability

Once the capital is mobilized, the Government can launch Big Infrastructural Development Programs, including Rural and Agrarian Infrastructure Development, setting up a series of start-ups in almost all suburban areas, including selected villages besides making the big funds available to the private investors and entrepreneurs. What is required is to develop a smart system to monitor each and every developmental scheme so as to assess their time-bound working, efficiency and cost-effectiveness and revision or modification if needed. Care must be taken for the proper utilization of the funds and preventing corruption or dead investment and thereby ensuring Accountability.

Global Impacts

The world is carefully watching the Indian Models of Development and War against Corruptions, Black Money and Fake Money under Prime Minister Narendra Modi. They have wider global impacts. Almost all countries, developed or developing; eastern or western, including America and China, are grappled with Corruptions, Black Money and Fake Money. India’s success stories will of course inspire several nations and peoples, especially populist leaders, including Donald J. Trump,  to wage a relentless War against Corruptions, Black Money and Fake Money. At any cost, it must be made a big success whatever may be the gravity of resistance and opposition even in the parliament or streets misguiding the common people. 

My recent writings on these topics appeared in the Market Oracle (UK) can be found with the help of the following link:

Prof. (Dr.) Raju M. Mathew

© 2016 Copyright Dr. Raju M. Mathew - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


04 Dec 16, 16:29
Modi the arrogant fool

Abolishing 85% of the money in an economy that conducts 95% of its business in cash without seemingly any pre planning is an insane thing to and it is not surprising to see the utter disaster that is unfolding. To say there are a few initial problems shows a total failure to grasp the magnitude of the economic collapse that is unfolding in India. Moreover it will not stop corruption, such things are as cultural as they are anything else but it will increase the corruption among those with the power over the system. Cash, and people controlling their own money is never a problem, unless you are a statist politician who wants to steal wealth from the populace. This cash ban in India will prove to be a catastrophe.

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