There are some topics that make me see red. In that state, I cannot even think rationally, leave alone write coherently. I am so angry that this is not going to read well for sure. But this has to be said. Those who are ultimately responsible for the violence against the Indian students in Australia should not be lynched. Lynching would be too good for them. I am not talking about the red-necks and skinheads (or whatever their Australian equivalents are) who attack foreign students. I am talking of the …

So much great stuff on the web, so little time. Here’s a handy little reader which I found on in the US Internet Archive. I checked out H L Menken’s “A Little Book in C Major“. See below for an embedded flipbook reader.

Here’s a collection of links for the weekend of May 30th.

Rajeev Mantri, executive director of Navam Capital, a Kolkata-based venture capital firm, writes in his piece in today’s Wall Street Journal on “Harnessing India’s Technological Potential” that “VCs typically consider India to be just a technology deployment market. That view is too narrow: India has not just the entrepreneurial competence but also the scientific talent to invent and lead in science-driven innovation.”

Stephen Moore of the Wall Street Journal has an article today, “Missing Milton: Who Will Speak for Free Markets“, which makes me despair for India. Milton Friedman was arguably one of the greatest proponents of freedom, and naturally therefore, an advocate of free markets. Trading is a uniquely human activity and humans engage in trade spontaneously and therefore human freedom must necessarily imply the freedom to trade. Human freedom without free markets is a fairly vacuous and meaningless idea. Prohibiting free markets is a necessary and often sufficient for guaranteeing …

In yesterday’s Washington Times, Diana West has a review of Moothy Muthuswamy’s book, “Defeating Political Islam: The New Cold War.”

A few bits of the review below the fold.

Much of the benefits of modern life we enjoy and take for granted arises from scale economies in manufacturing — the larger the quantity manufactured by a firm, the lower the average cost. But there is a countervailing effect. Up to a certain size, the overheads of managing a firm goes down as the size increases. Beyond that point, the costs of managing go up with size. That limits how large firms can get. The market weeds out firms that grow too big because the inefficiencies show up in higher …

I am not really anti-social and neither am I a misanthrope. I love humanity in the abstract but I admit that I find most not worth the bother, and consider a significant number pretty intolerable. Upon reflection, I concluded that the behavior that most bothers me is herding. Herding is alright for sheep and their ilk but when humans do it, it is pitiable.

You never thought of the web reflecting the morality that permeates human behavior, did you? I did not. I just read a fine article on the topic. The article title by David Weinberger, “The Morality of Links“, is a tad disturbing to me because it smacks of anthropomorphism but the article is a delight to read. The article is from a collection in the book, “The Hyperlinked Society: Questioning Connections in the Digital Age“, Joseph Turow and Lokman Tsui, editors.
Weinberger starts off with the simple declaration “Links are good” and …

They say you can’t take it with you. So the only alternative is to keep it in safekeeping till you get back and reclaim what was yours when you reincarnate. Now you need not wonder where to stash your cash. There’s Reincarnation Bank for you.

I don’t follow elections even though their outcomes dictate economic policies, which in turn determine the fate of economies. Given my interest in economic development, I should care about elections but I don’t. I also don’t follow the post-elections dissections of analysts mainly because I have better things to do but partly because I feel — incorrectly perhaps — it’s all a matter of opinion and conjecture. It feels like a lot of post-hoc rationalization.

A short century ago the US and Argentina were rivals. Both were riding the first wave of globalisation at the turn of the 20th century. Both were young, dynamic nations with fertile farmlands and confident exporters. Both brought the beef of the New World to the tables of their European colonial forebears. Before the Great Depression of the 1930s, Argentina was among the 10 richest economies in the world.
That’s from a fascinating article by Alan Beattie in the Financial Times of May 23rd titled “Argentina: The superpower that never was.” …

I received an SMS just moments ago: “A thirteen-year old’s day in Surat: school 7 to 2. Daily tuitions 4:30 to 7:30. Saw ICSE standard 8th textbooks. Detailed and depressing. What a state!”
No surprise to me as I have observed the same sort of insanity in the case of the children of friends and family.

In a recent piece in the Wall Street Journal titled “India’ Greatest Failure,” Paul Beckett writes about T.S.R. Subramanian who retired as India’s most senior civil servant in 1998. Beckett quotes from TSR’s book, “GovernMint in India” — “Since no part of the Establishment has an interest in punishing corruption, trying for a more sweeping solution quickly leads into the realm of blind hope.”

The government of India is trying to gag people. You might object that that is as novel as the news that the Pope is Catholic. I agree. A socialist government cannot but rest on an uninformed citizenry. Truth is as welcome to the corrupt government as sunshine is reputed to be to Count Dracula. I don’t mean to imply that the government of India sucks the life’s blood out of its citizens although that may well be true.

We all want to make a difference. That comes effortlessly when one is dissatisfied with the current order of things. As the wise old dipsomaniac Omar Khayyam put it,
“Ah love, could thou and I with fate conspire,
To grasp this sorry scheme of things entire;
Would we not shatter it to bits,
And remold it nearer to our hearts’ desire!”

The web is a wonderful place where if you have the required smarts, you can get yourself a pretty decent education. Just having a lot of information at the click of a mouse would not do. You have to know what to take and in which sequence. What you get out of a book — or the web — obviously depends on you. But we can safely assume that one is reasonably well educated and can reason effectively at some level. If that is so, then the task becomes one …

It is hard to reconcile poor governance with a population which is reasonably smart. The basic nature of reality does not admit such contradictions. The inescapable conclusion is that the population is not smart. Evidence of it is all around us to see but I would like to present an illustrative example — with a picture below the fold. It demonstrates the stupidity of some apparently educated — well, if not educated, at least literate — people which makes them so terrifyingly gullible. Never think that we collectively do not …

The greatest scandal and the greatest failure of the Indian governments (all of them, and practically all of them have been Congress) has been in education. A great economy and a great education system go hand in hand — though it almost always starts with the education system supplying the fuel that powers the engine of growth and development. Any dispassionate observer of the Indian education system (and I am one of many) cannot but conclude that it is one of the most distressed. It has never been very good …

My colleague Rajesh Jain writes to the about-to-be-formed new government of India in today’s Wall Street Journal and says, “Get us Involved and Lets [sic] get going.” He advices the new government (but I guess it will be the same old guys) that the areas where they need to focus on are, among others, education, transportation, urbanization, digital infrastructure, and good governance. Naturally I agree with Rajesh because that set of interventions is what is needed for India to develop and I have been saying as much on this blog. …