Tag Archives: bureaucracy

Overprotected. Over-administered. Over-planned.

That’s India of the 1950s-1980s – the age of the “permit raj”. wgreen has a post on the proposed US auto bailout where he has linked to a YouTube video (about 3 1/2 minutes) – a clip from the PBS documentary Commanding Heights: The Battle for the World Economy – that deals with the problems that plagued socialist India. Read his post for that clip, and visit this website for the whole three-episode-six-hour documentary.

The video I refer to is the fourth chapter from the second episode – India’s Permit Raj and this is the complete transcript of that chapter. You have everyone from Yashwant Sinha to Chidambaram to Jairam Ramesh to Manmohan Singh talking about how government control of the economy and “protecting” local industry was a recipe for disaster, and the funny part is, in 2008, none of them are ready to completely open up the economy. Its as if they don’t understand economics at all.