The invisible hand of the market is an increasingly visible bunch of grubby paws grasping at public money. Remember the leave-it-to-the-market crowd? It is mostly occupied screaming for state intervention and public money now. The boot is on the other foot. As one famous financial daily says with obvious disgust, the present mess gives new life to “the capitalism-is-dying-crowd.”
Never, though, underestimate the arrogance of the true Market Fundamentalist. The silence on these failures amongst great Indian devotees of that faith is striking.
Monday, September 29, 2008
P. Sainath has been ridiculed often by the libertarian bloggers as a bleeding heart liberal. Now it is Sainath's turn to tear into his detractors.