Last year, the Supreme Court of India asked for the reasons about why the government allowed the ruin of food grains in governmental stock facilities and go-downs while many millions in India were suffering hunger and malnutrition. According to newspapers, a fifth of India’s population remains undernourished and some 3,000 children die each day from hunger-related causes while around 6 million tons of food grains were ruined in the year 20121 . Obviously, it was a clear indication that governmental intervention in the market causes extreme failures and loss. However, instead of learning this clear lesson from the situation, the government and the socialist bureaucrats of India suggested furthermore interventionist approach towards the issue and in 2013; the government announced their will to pass the Food Security Bill in the parliament. The food security bill suggests that every citizen has a right to get food (as a privilege of being a citizen of India) and the government has a duty to ensure that nobody is suffering lack of food or hunger. In other words, food security bill suggests that food is a human right. While this bill is still hanging in the parliament because of the uproar of opposition parties …Read the Rest
Ethics
Socialism is Existence of Government
One of my friends was contemplating about the “nature of Indian Economy and Role of Government” and he concluded that Indian economy is “mixed” but its intent is socialistic. I admire his article for the fact that he is beginning to analyze things with better perspective. However, I also realize that he is wrong if he believes that there can be a free economy in presence of the government. I explained Mixed Economy as the “Middle Vice” in one of my previous articles that I wrote a few years ago. The idea of Mixed economy or Fabian Socialism comes from the misunderstanding of the Aristotelian Nicomachean Ethics that suggests that out of the two extremes, the middle path is preferable. However, the middle path is not always right and often, it is worse than the two extremes. Issue of mixed economy is the same, it is the worst path. If Individual Freedom (Capitalism) is Good, if Socialism is Bad, then Mixed Economy is ugly1 . While I appreciate his article to the extent that he was right about analyzing nature of Indian economy and government, reading his article was painful. Let me tell you why. While this blogger is expressively …Read the Rest
Austrian Economics and Objectivism : Austrian Value Theory and Objective Value Theory
Logic can be expressed in a number of ways; however, if it is sound logic, no expression of it can negate other expression. This is true with the case of differences between Austrian school of economics and the philosophical movement known as Objectivism. However, different terminologies often create various misunderstandings and confusion that furthers the yawning gap between these two branches of libertarianism. Austrians often remain in influence of Ludwig von Mises and Murray N. Rothbard, on the other hand, Objectivists enjoy impressions of Ayn Rand. Recently, I observed a similar debate over the value of Gold. There are three Classic value theories of goods namely, intrinsic, subjective, and objective. First, I will discuss about these three classical value theories and then I will discuss about the Austrian value theory as supported by Austrians and the Objective theory of Values as supported by Ayn Rand and other Objectivists. Classical Concepts of Value Theory Concept of Intrinsic value of a good: According to Richard Cantillon, who was the first of the modern economists, the intrinsic value of an object or good is the measure of land and labour that has been used in production of that good. However, Cantillon conceded that …Read the Rest
Ayn Rand’s Novella Anthem in Hindi
Here is the translation of ‘Anthem,’ one of the finest works by Ayn Rand. In spite of all differences between Objectivists and Voluntaryists or Anarchocapitalists, I believe that every book by Ayn Rand is of great importance for every person who understands the importance of Individual Liberty. I translated this dystopian fiction novella by Ayn Rand because I feel it is one of the finest works of her. I tried my best to offer appropriate content in Hindi and I hope this translation will help all Indian libertarians to spread the ideas of ‘Individualism’ in Indian masses. I am also attaching this translation in pdf and docx format. Anthem-स्तुति.pdf Anthem-स्तुति.docx एन्थेम “स्तुति” भाग एक यह लिखना ही एक अपराध है। उन शब्दों को सोचना जो कोई भी और व्यक्ति नही सोचता और उन्हे एक कागज पर प्रस्तुत करना भी एक अपराध है जिन्हे पढने वाला और कोई नही। यह घृणा योग्य और दुराचार है। यह ऐसा ही है जैसे कि हम अकेले ही कुछ ऐसा बडबडा रहे हों जो कोई और नही बल्कि हमारे ही कान सुन सकते हैं। और हम यह भलीभांति जानते हैं कि अकेले ही कुछ सोचने या करने से बद्तर कुछ नही हो सकता। हमने कानूनों को …Read the Rest
