Indian subcontinent with multicultural,multi lingual, multi religious and ethnic diversified castes,communities and faiths was prosperous when it was politically united, allowed non discriminatory free trade within the politically united country as in Ashoka period and Akbar period and poorer when it lost political unity and tattered in to economically fragmented discriminated markets. This should be the first lesson Indian politicians should keep in mind while taking policy decisions.
the second lesson is that in the recent internet led a globalized markets like banking,services, and financial and now commodity markets and even the real estate landed property markets, there is a real movement away from national markets to international and being transformed in to global markets with its ramifications on reassessment of relevance or irrelevance of the old political concepts like 19th century national sovereignty in 21st century integrated global political economy. The events in European zone and north America and middle east,south and south east Asia and more general scale between Ancient east and west, Asia and Europe including America will prove the natural tendency to redefine the 18th century dream concept "national soverignty" realized in 19th and 20th century.Indian politicians should wary of this natural tendency in geo-politics and economics and how to befit it without loosing the growth momentum.
Free Will ,conflicts of free wills and interests, avoidance conflicts and harmonization of broad cross sections of populations of the nation or nations through rule of law and its enforcement is the basis of long lasting economic and political institutions' foundations in any free world.whether the food security bill will pass the test?
food security to an individual is laudable in objective.but it should not be charity and paternalistic,impeding the liberty of contract and dignity of an individual,of impeding the increasing the division of labor and labor productivity and free labor market and wages.It should not hinder the free movement of labor and conversion of labor as capital consumption instead of revenue consumption i.e. increase the capitalistic/corporate relations in agriculture and other backward sectors or increase the wage burden on employers of such labor that will stultify the competitive edge of the said employments.Food security bill without the land reforms in the direction of separation of landownership from possession and management as outlined by me in the "issues for national consensus"(www.aplegalservices.com) will prove to be currupt populist measure pulling back the economy in opposite directions to the economic reforms initiated in 1991 policy frame misfitting the Indian economy to globalization of division of labor and employment which is the need of the hour. Therefore a review of food security bill is necessary before it is hastily enacted in parliament .
A comment on 51% ownership controlled and managed foreign direct investment in multi brand retail sale is necesary.Purely economic and commercial trade in retail outlets perse is beneficial to Indian economy as proved to be with east india company. Experience has also shown that the country's legal system should be best fitted with controlling strong-arm market and political manipulative strategies of such centralized globally- armed supply chain firms with capacity to price discrimination to decimate the local market competition with equal power of enforcing law and criminal penalties against them through an efficient speedy and independent judiciary
Lesson from Experience with east India company, its origin, rise and fall ,its conversion from trading corporation to political sovereign corporation is apt one to prevent the trader/business corporate interests to combine with political power like Clive, Hastings,chides and crony capitalist class developing in many developing nations and notably in India is as much a threat to Indian democracy and rule of law from inside as is foreign trading corporations outside and a legislation barring corporate interests and the politicians having corporate interests from eligibility to any office of legislative, executive or judicial posts.Legislation in that direction is necessary while welcoming the FDIC without cap.
Eternal vigilance of citizens is the price of freedom and democracy from such corrupt people,not mere legislation.
Follow Mr S. Lakshma Reddy, Advocate, A.P. High Court at http://slakshma.goforthelaw.com
Indian is one of big rising economic power of future. But these days big scam hits Indian economy. Also some political leaders involvement in these scams is not good for Indian reputation at world level.
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