ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Money Puzzles

Contributed A SORT of 'shadow-boxing' is in progress in the 'money puzzles' arena (February 4, p 183; March 3, P 381; March 31, p 537). There is obviously a wide information gap which is sought to he covered up by rhetorical flourishes. It is necessary, therefore, to begin with certain basics' The money multiplier theory suggests that when primary money

Taxes and Incentives Myth and Reality

The net result of this year's budget will be to give an even larger slice of the national cake to those whose share is already disproportionate to their size or their contribution to its making.

At the Altar of Rationality

THERE are no votaries of the free market left among Indian economists. They have all turned into evangelists in the cause of project evaluation. That way they can pay lip service to planning and pretend that their predilection for the market mechanism is really in the interests of more rational planning.

Black Is Not Beautiful

Black Is Not Beautiful Contributed Direct Taxes Enquiry Committee, Final Report, Ministry of Finance, Government of India, December 1971; pp ix + 314.

The Expenditure Pattern

The proposed collaboration with Wilkinson Sword is also fraught with undesirable possibilities Ostensibly the collaboration is being sought in the interest of expanding exports, but if the company is allowed use of the collaborator's well known brand names within the country Malhotra's monopoly position would be immeasurably strengthened. Worse, it is bound to provoke demands by other blade manufacturers, who may similarly agree to export commitments for the purpose, that they be permitted collaboration with makers of other internationally known brands such as Gillette and 7 O'clock, Thus the floodgates may be opened to totally unjustifiable and wasteful proliferation of collaboration arrangements and foreign brand names in blades as was allowed to happen in such diverse industries as cosmetics, refrigerators and radios.

A Time for Humility

A Time for Humility Contributed THE avid dissectors of the class character of a nation may disagree, but, for the people of Bangla Desh, liberation from Pakistani colonial subjugation is a great qualitative step forward even if one were to consider the matter in terms of broad historical sweeps. The emotions which an expatriate from that land experiences at this juncture are peculiarly mixed. Joy wells up, joy at the magnificence of the grit demonstrated by practically the entire Bengali populace. But there is also a feeling of guilt and shame. What share can an expatriate protend to have of this glory, what right does he have to lay claim or. a portion of the pride which, from now on, will be the heritage of every citizen of Bangla Desh?

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