October 25, 2009

Capitalism Redux

This is definitely an instance of capitalism in full bloom when brothers fight a battle in the Supreme Court of India to get richer.

The natural resources of a nation should benefit the people of the country. The entrepreneurs who help to harness those resources also deserve their fair share of benefit.

The problem arises when investors try to get access to the resources on the cheap and then proceed to derive extraordinary benefits from them without commensurate benefits accruing to the people.

Telecom licenses and spectrum are no less of a national resource than natural gas in today's world.

Inevitably, it appears that the awarding of licensing did not happen in as transparent a manner as it could have. The CBI is trying to find out if any wrongdoings were committed but it's hamstrung by the barriers that surround its functioning.

It's disgusting to see senior functionaries - old people basically - trying to make money using underhand means. I guess it's difficult to resist money when an opportunity presents itself to earn huge amounts of it.

No amount of changes to the statutes can take care of this malaise as it's a moral issue more than anything else.

When people are willing to do the wrong thing when they don't see any danger in so doing, they will find a way to do so.

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