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Monday, June 13, 2005
That twisted zero-sum logic
A couple of days ago Gaurav Sabnis had demonstrated the fallacy behind Arundhati Roy's statement that mobile phones in India come at the expense of poor people. Now the CPI is making the same mistake, protesting against MNCs that are trying to "loot the country’s wealth". A report in the Financial Express says:
(Link via MadMan's LinksMatic.)
Citing the LG case, they said that by investing a meagre Rs 40 crore, LG had, achieved a turnover of over Rs 9,000 crore and amassed profits over Rs 500 crore per year for the last six years at the cost of Indian companies and consumers. [My emphasis.]Someone give these gentlemen an Economics 101 lesson. Unless they're saying all this just to entertain us. In that case, it's fine.
(Link via MadMan's LinksMatic.)
