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Tuesday, December 12, 2006
Who's the real Manmohan Singh?
Dr Jekyll or prime minister Hyde?
The Rational Fool's post is spot on, in my view. As I mentioned in this WSJ op-ed, Manmohan Singh's government liberalised some of the economy in 1991 because they were forced to: the balance-of-payments crisis left them with no option. But once that crisis was past, the liberalisation slowed down, as the special-interest groups got to work.
Recently I read some speeches made at a seminar on price controls in the early 1980s, and was surprised to find Manmohan sitting firmly on the fence, doing nothing to indicate any displeasure at the status quo. He is a good man, and I'd never question his integrity, but, alas, he is no lover of freedom.
The Rational Fool's post is spot on, in my view. As I mentioned in this WSJ op-ed, Manmohan Singh's government liberalised some of the economy in 1991 because they were forced to: the balance-of-payments crisis left them with no option. But once that crisis was past, the liberalisation slowed down, as the special-interest groups got to work.
Recently I read some speeches made at a seminar on price controls in the early 1980s, and was surprised to find Manmohan sitting firmly on the fence, doing nothing to indicate any displeasure at the status quo. He is a good man, and I'd never question his integrity, but, alas, he is no lover of freedom.
