Opinion National Interest PoV 50-Word Edit

ThePrint On Camera Videos In Pictures

Society & Culture Around Town Book Excerpts Vigyapanti The Dating Story

More Judiciary Education YourTurn Work With Us Campus Voice

Opinion National Interest PoV 50-Word Edit

ThePrint On Camera Videos In Pictures

Society & Culture Around Town Book Excerpts Vigyapanti The Dating Story

More Judiciary Education YourTurn Work With Us Campus Voice

No amount of welfarism and futurist illusion can remove poverty of Indian people: BS Sanyal

The methods of the welfarist reduce the productivity of human effort and thus affect the welfare of the invalids as well as of the able-bodied. This is a greater injustice, BS Sanyal wrote in 1957.

No amount of welfarist blab can prove that their poverty has been caused by capitalism. On the contrary it is the absence of capitalism that is the root cause of their poverty.

And the absence of capitalism may be traced to the vestigial ascetic and feudal mentality, hostility to foreign investors, lack of energy honesty and righteousness, increasing population, little capital accumulation, extremely low per capita quota of capital investment, low capacity to absorb capital, encysted market, and, above all, the new found love for escapist and self-stultifying method of realising economic good. All these and many other factors checkmate the growth of a healthy and virile profit-seeking entrepreneurship.

No amount of welfarist nationalist sentiment, again can blame the erstwhile colonial powers for the poverty of the Indian people. That the Imperialists in India did some harm to our age-old cottage industries is offset by the fact that the foreign rulers imported and invested capital and did all they could for the material well-being of the people. Neither has the poverty of the Indian people been caused by the microscopic minority of the allegedly privileged groups inside or outside the country. 

Welfarism creates slavery and poverty

And, even an ignoramus like the present writer has no difficulty in seeing that the political shortcut to the welfarist utopia is like Belzeebub’s driving the special train along the celestial rail-road.  Again, no amount of welfarist wish-fulfilment and futurist illusion can remove the poverty of the Indian people. The operation of the Free Market alone can deliver the goods. 

The relationship between consumption and investment being that of inverse variation, quick economic development makes the problem of poverty and backwardness acute. Besides, look into the aspirations of erstwhile colonial peoples. Individually, they would like to have the prosperity of an American, and nationally, the security of the British Welfare State. Given the above relation between investment and consumption and the above aspirations of the people, the welfare politicians will have to give them only regimentation and totalitarianism. 

We are not taking an alarmist view. To add to the available resources, the plough-back........

© ThePrint