Hey Prof! Agreed with you completely! One point I would like to make regarding how classes of society in Pakistan have been splintered, it's that indeed sports is the way to bring them all together! And in my humble opinion it may just happen in the form of go-karting! Wink wink... 🙂 PS I look forward to seeing you and talking about these very things soon upon my return to Pakistan!
But we also need to do a lot more in many fronts but it's great that India is still doing very good right now in Ukraine-Russia crisis where most likely recession will hit even the strongest economy like USA
I am disappointed that I don't find this kind of discussions about India by Indian economists. 1 hour 37 minutes well invested. When they discussed about investments they did not talk about the cost of investments, referring to CPEC I don't agree on subsidy for education, people who study in IITs, NITs and AIMS end up to the US, which is not different from exporting wheat and sugar where agriculture is heavily subsidized. A bag of Urea in international market costs about INR 5000 sold to farmers at INR 246. Please help me understand how these two subsidies are different.
The class structure has existed for centuries, far earlier than the invention of television programs and internet. I don't agree with that argument. The manifestation may have changed. Plus, it is a straw man to say that we need markets, otherwise we will become hunter gatherers. Of course, we need markets plus institutions etc to build a large scale society. When did a socialist argue that we need to become hunter gatherers? Marx called hunter gatherer societies primitive communism. Distribution and expansion of pie are connected. If we only focus on expanding the pie without truly democratic politics, equitable distribution will be very unlikely. Its an old argument of conventional economics that one can expand the pie first and ignore "normative" considerations. Expanding the pie without distribution is also normative. We need to expand the pie while at the same time have truly democratic institutions.
1) Marx was a vile anti-semitic bigot. His opinions lead to violent authoritarianism. 2) Democracy needs limitations, & it should not trample on certain personal liberties, whether it be religious or economics.
@@ggt8194 Your first argument is called an ad-hominum. Marx was a jew himself. Even if he was anti-semitic, it is ad-hominum. Secondly, Marx was a liberal, if you cared to read him. Yes, we have individual rights but liberals like you view individuals like atoms which have no connection with the rest of society. If you are extracting labor surplus and benefiting from it, that is not your "personal" right. Anyway, that is all for now.
@@sonaan10 1) It doesn't matter if he was a Jew or not. He was an anti-semite & a bigot. You wouldn't have even doubted that fact from the get go, had *you* actually read about him. 2) Marx was no "liberal". Imagine being this dishonest. A liberal just means an open minded person or the exact definition which says that "relating to or denoting a political and social philosophy that promotes individual rights, civil liberties, democracy, and free enterprise". Marx was a communist. 3) There is no such thing as "surplus value". If a worker can't get a higher pay for doing almost the same job, as he is doing now, working for anyone else, anywhere in the world, then what that worker is being paid now, is *exactly* what he's worth to society. Wages are determined by the market, i.e. people. So, it's better to embrace reality, & let go off that victim complex.
Riyasat e medina is 14 centuries ago. Imran promised riyasat e medina and delivered it by taking Pakistan economy decades behind. If he had his full term he would have succeeded in taking Pakistan to stone age.
