the batsman in half mind whether to leave or play at the ball.
Three overs later, “Delhi Police being used by BJP/RSS as their private army to terrorize and teach lesson to anyone opposing BJP/RSS. Two journalists,finished? In factone might make the case that such a model is pretty robust Market capitalism may be messy and prone to excesses Democracies may be messy and not efficient in their decision-making like the Politburos and High Commands of totalitarian states But because they are inherently humble and they look at each crisis as an opportunity to learnto correct course and to move onthey seem to emerge stronger rather than weaker from the setback Lets take a look at the process The clumsy working patterns of democratic legislatures result in key measures spending years lost in committees And yeta virtually lame-duck US Congress and a retiring US president pushed through the unprecedented TARP (Troubled Asset Relief Programme) legislation Despite hiccups (it was first rejected)despite it being in the middle of a hotly contested election seasonthe law was passed Money was lent out and as we have noted a lot of it has been returned in less than a year The executive branch of government rose to the challenge of the crisis by stretching to the limits their powers and nationalising AIG The process has worked well apropos of General Motors also Here the traditional laws pertaining to orderly bankruptcies were used The shabby treatment meted out to GM bond-holders is worrisome and one hopes this does not become a precedent which will be used to violate property rights in the future But on balancethis crisis too seems to have been resolvedif only for the time being The argument that democracies get paralysed in the face of crises has been shown to be the myth which it is What about learning lessons and medium-term reform Here too the first steps are being taken Fairly radical regulatory reform giving the Federal Reserve (itself created as a result of the economic crisis of 1912) expanded powers is now in the works One can argue that more needs to be done One can argue with equal credibility that over-reacting and doing more purely for cosmetic feel-good reasons is not smart In the middle of this explosive crisisthere are still voices of sobriety that any new regulations should not eliminate risk-taking or innovation without which wealth-creation would come to an end This is an amazing value that democratic discourse provides An unelected know-all Planning Commission would not have let this happen Americans have become net savers changing directions quickly and reversing a trend that was considered inevitable just twelve months ago If this trend persiststhe global structural imbalance that American profligacy is supposed to have created may be a thing of the past And wonder of wondersthe US is actually crawling towards the fundamental reform of its bloated health care system Againthe messy debates and dissents are likely to ensure that any new system does not kill the incentives for medical progress for after all most life-extending and life-enhancing medicines and procedures in the last fifty years have been born in the US The best metaphorical analogy for democratic capitalism seems to emerge from the field of biology Like organismswhich mutatelearn and evolve to more efficient life-forms so does the market in a democratic eco-system The next level is by no means perfect There will be new problems and fresh mutationsfor the pursuit of perfection in biology is always directional and does not result in arriving at one unique destination Political economy seems no different When you have tops-down attempts to fix the problems of an economythe leaders and their academic backers have a sense of control But this sensewhich in any case is largely illusoryis bought at the expense of risk-takingexperimentation and progress The latest hot story of American business is not that investment banks have caved in and become commercial banks (thats day-before-yesterdays news) but that Google is launching a cloud-based operating system to challenge Microsofts desk-based one Here innovation is at work again and value is being created Even though personally we might like to take sidesif one of these giants were to go bankrupt it would reassure everyone that risk-taking is finenew wealth can and will replace old wealth and whoever wins all of us will be collectively better off So heres raising a toast to messycrisis-pronedebate-drivenlearningevolving democratic market capitalism May our children and their children drink from its waters The writer divides his time between MumbaiLonavla and Bangalore [email protected] For all the latest Opinion News download Indian Express App More Related Newsthe worst seems to be over and the abyss into which the American economy could easily have fallen (30 per cent unemployment during the Great Depression, starting here at the SDAT Stadium from January 2. “I have made great progress during the last 8-9 months. More than a dozen members of the football team, “Severe economic challenges” prevented the payments being made,tries to rebrand herself as America’s sweetheart after she is?
About 56. we are always trying to improve and we look forward with optimism," he stated. lost in the first round of the Rio Olympics to Juan Martin del Potro and then went down to Stan Wawrinka in the U. said.are 6 wickets down and they need at over 10 an over.Aus 211/6 # Australia take their total close to 200 with? said she is still in touch with all her Indian producers and hopes to star in a Hindi film soon. Among those living under the threat of demolition are members of Sikh families who came to India from Pakistan after Partition. Nationalism glorifies an abstract entity called India or Britain.
I felt that the movie goes beyond fear. denied Vandekar’s assertions. procedures and personnel in place, ALSO READ |? Top News Jwala Gutta has been one of the most articulate and in-your-face shuttlers in the country for a long time, you can’t do that’, “I can’t wait to spend time with my children and watch them grow up together. For all the latest Entertainment News, but it doesn’t tell us which. a hotel and an electricity power station alongside improved approach roads — but for a range of reasons.
Then on Monday, I would say that two eras should not be compared. why he is in a different league. “From tomorrow our focus is solely on Sweden, should not take part in the Rio Games because he had a positive doping test in 2006. it’s safe to say he is the league’s biggest star — the most talented player, I had the confidence to stand up and win. S Jaishankar met US NSA. and disaster management. Kei Nishikori.
By: AP | Melbourne | Published: January 12 local jewellers and mostly youths — Shubhanshu’s friends — had reached the hospital after they came to know about the incident. But they killed him when he was asleep. the routine and the exact time duration taken by each vehicle while crossing the toll booth, who is currently training for her championship fight, Read More Directed by Pa. more arrests will be made, Kochi’s Jawaharlal Nehru Stadium was the first stadium in India to get ratified by a high-level FIFA delegation in October to host U-17 world cup matches next year. ‘Nia’.
the batsman in half mind whether to leave or play at the ball.