With eminent economists like Dr. Man Mohan Singh as PM, Dr. Montek Singh Ahluwalia as chief of the Planning Commission and Pronab Mukherjee as the FM, why UPA govt is miserably failing to manage India's economy as it should be managed?
Unfortunately, this ain't Thailand, Malaysia or Japan- this is India :D
Friedmanism is a good economic concept, but it can't be universally applied to all countries and cases. To qualify for Friedmanism:
1. The SOCIAL MATURITY factor must be very high in the population.
2. The majority of the population has to be either industry or service dominated with agriculture practicing pop. and sector just dominating less than 10-15 pc at most of total economy. We are at 60 percent almost.
TO talk about SOCIAL MATURITY factor, this is an indicator of how well your ...more