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TUESDAY, NOVEMBER 24, 2009
Western ideas, Indian ends
India’s renunciation of desire can be reconciled with capitalist theory, which was developed in the West
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I am absolutely flabbergasted that you say "The science of modern (western) subjectivist economics teaches that the economy must be free from all government intervention." in march 2009! This theory of 'Free markets' proponded by none other than Alan Greenspan,and stands shattered and in ruins today!and look where we are now! Even the Mighty American share market has not indicated when we will see the bottoming out! It was NOT a scientific theory bcos it was not tried and replicated without fail any where before it was thrust on unsuspecting victims!In science observations and hypotheses need to be proven beyond doubt and need concrete proofs which can be replicated any where any time The economic theories are at best behavioural models which do vary according to the variables which they get exposed to! It is more like weather forecasting , only part science
R
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