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Strategies & Market Trends : India Coffee House
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To: Worswick who wrote (330)4/30/1998 11:45:00 AM
From: Mohan Marette  Read Replies (2) of 12475
 
Dr.Ravi Batra-Pure & unadulterated Voodoo Economist!

Worswick:

I respectfully disagree with you assessment of Dr.Batra as he comes across to me as a proponent of Voodoo Economics of the hilarious kind. Of course when he dishes out many of his unsubstantiated prognosis and assertions,the man occasionally speaks some truth and why shouldn't he as the man has doctorate in economics and I would be surprised if he didn't.But the point is majority of what he says is pure Voodoo and I think he contributes more than enough to damage his own profession.

I believe he should have made a better historian than an economist as most of his contentions about the doom and gloom is based on historical facts and not based on principles of economics.By studying the U.S economic history of the last 300 years or so he tries to predict the present and future course of the U.S and the world economies while conveniently forgetting the functioning of the world and the U.S economy in particular is vastly different from that of 300 years ago or even a 100 years.Just because something happened a few hundred years ago doesn't mean it will happen again particularly in economics as many variables have since changed and we do not do things like we did then.

Blaming Free Trade for the ills of the U.S economy doesn't make any sense whatsoever for adopting the alternative will invite disaster and contraction of the economy and not expansion as clearly illustrated by many countries including India and to some extent even Japan.

Like someone said in one of the links I provided,his classification of the society in to some 4 economic classes is nothing more than a lesson taken from Indian society and try to pass it as high caliber economics is pure bunk.

Well you know where I am going with it, so I will stop now for I have already taken too much space.<gg>

Thanks very much for your thoughts and it is much appreciated.

PS:BTW did you know that Batra is an 'expert' on Japanese economy???
May be we should invite him to come over to the Asia Forum,eh.<gg>

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