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Subject: Re: The Curse of India's Socialism
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Date: Tue, 20 Aug 2002 15:01:36 -0700

I think that this and other articles confuse Socialism with 
Bureaucracy.  Libertarianism as implemented in North America is not 
exactly the shining pinnacle of economic efficiency.

Just try starting a telephone company in the US or (even worse) 
Canada.  It can take a year or more to get the blessing of our own 
"Permit Rajs" at the FCC, PUC, and PTTs (or, in the decidedly more 
socialist leaning Canada, Industry Canada and the CRTC).

Yet, despite all of this intense regulation and paper pushing, as 
well as regulatory scrutiny by the FTC, SEC, and IRS, the 
executives of Telecom Companies have managed to bilk the investment 
community for what looks to be tens of billions of dollars.  They 
finished their routine with the a quadruple lutz -- laying off 
hundreds of thousands of workers when it all came crashing down.

So.. tell me again.. how are we better off?

-Ian.


On Tuesday, August 20, 2002, at 12:09 PM, John Hall wrote:

> The Mystery of Capital: Why Capitalism Triumphs in the West and Fails
> Everywhere Else -- by Hernando De Soto	
>
> Is something I'm reading now.
>
> My impression is that France is not anywhere near the "Permit Raj"
> nightmare that India is (and became).  Nor has its market been closed
> like India's has.
>