Economics India

Thursday, February 16, 2006

Mr. Peter Milford's Comments on the Post below

Readers should please take note of Mr. Peter Milford's comments on the post below, which tell us a lot. Experience of Russia, China and other communist countries has abundantly shown that "forced equality" perpetuates poverty and deprivation by killing entrepreneurship and incentives in the society and in turn economic growth. I had a chance of looking at Chinese and Russian economies in the early stages of their respective economic reform and talk to several Chinese and Russian households. What I saw and heard was that in the so-called equal and egalitarian societies there were some people, especially those who happened to be coveted members of the communist party, were "more" equal than others -- how about that?

20 Comments:

  • Dear Ramesh:

    I agree with your notes about "equality". This reminds of a very old novel called Atlas Shrugged in which Ayn Rand had beautiful shown how communist mentalities can systematically destroy well developed societies and economies. I consider that book as an essential reading for a Development Economics course. Also I remember Milton Freedman's Free to Choose book.

    It would be nice to hear some comments from those who believe in "equality".

    Chandra

    By Anonymous Anonymous, at 4:04 PM  

  • "Equality is in the eye of the beholder"

    Any comments on the Railway Budget

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