Mulayam: Bad Choice

English: Nitish Kumar (Photo credit: Wikipedia)

The Janata parties coming together is a good thing for Indian democracy. But Nitish might have lost some ground in the process.

When Nitish was running up and down the street urging the BJP to not pick Modi as its prime ministerial candidate, for a moment I thought maybe he himself harbors prime ministerial ambitions. But no, Nitish was rooting for LK Advani!

Advani would have been a sorry choice. I think Advani at the BJP helm would have created room for a Third Front government.

And now Nitish is behind another octogenarian, Mulayam. Mulayam is no development man. At least Laloo had a stellar stint as Railways Minister. Mulayam has none of that. He was a Mandal man who played the caste cards to his advantage. But those tricks don't work no more. Modi khud backward hai.

Nitish is the only development man in the Janata Parivar, and his not leading the unified party tells me Modi will stay PM for 15 years. He is the BJP's Nehru.

This is like Yahoo and Bing coming together to take over Google. Google's search market share increased in the aftermath. Right now my bet is the BJP is on its way to forming the state government in Uttar Pradesh. So much for Mulayam leading the unified Janata party.

Bado ka aadar karo, lekin itna mat karo ki democracy tabah ho jaye. 

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The Theoretical Void In Economics

English: Total Solar eclipse 1999 in France. * Additional noise reduction performed by Diliff. Original image by Luc Viatour. Français : L'éclipse totale de soleil en 1999 faite en France. * Réduction du bruit réalisée par Diliff. Image d'origine Luc Viatour. (Photo credit: Wikipedia)

The 2008 economic meltdown came out of nowhere. Literally no one saw it coming. No economist of any renown had foreseen it. That is like having an army of astrophysicists none of whom can predict the next solar eclipse. I am not too impressed with the economists of the world. Reality is ahead of theoretical progress in the field, obviously.

And even when the crisis hit, the prescriptions were hotchpotch. They were coming from policymakers who sort of kind of knew what needed to be done. That is a sad state of affairs. I still see that theoretical void. It goes unfilled.

One prescription was the 700 billion dollar stimulus. That helped but was too small to make full use of the crisis. Another prescription was the Fed simply printing and pumping dollars into the economy. And that is intriguing to me. Simply by printing more dollar bills, the Feds were also having positive impacts on far flung countries.