Capitalism works even in a captive state. Patron forces every element to conduce the captive operatives and enterprises grow exponentially.
At first, such economies grow very vast and overwhelm the others, but after some time, the model starts crumbling.
It may be an absolute case under authoritarian regimes and partial or selective under the lesser authoritarian ones.
Client capitalism has inherent limits: the patron's imagination and position. That cannot be crossed. More critically, patrons often resort to their 'wisdom,' say whims and fancies, to drive the economy and that costs the economy badly.
The fact is overlooked that capitalism is essentially about rationalism. A regime harms the economy badly if it works to defy the principles of the market. This explains the crises which engulf many economies of the world. However, one must know that one fits all expertise does not work. Knowing, how and what of it, is critical knowledge by itself.
The mantra is simple, a regime must remain focused on its task, i.e. to ensure freedom and fair play. All other activities of a regime are deviations, and those violate the rules of civility and impoverish the national culture both materially and morally.
Niraj Kumar Jha
कोई टिप्पणी नहीं:
एक टिप्पणी भेजें