Democracy, Competitive Populism and Fiat Money
They say it’s hard being from the state of Tamil Nadu and not concerned about politics…atleast during the elections ! Well, it is true personally speaking. I can’t comment abt inflation, currency devaluation that you discussed (but very interested to know more) but one thing is certain: the goodies have been announced by all parties. I’m not quite sure if “most voters are pretty sharp and well informed about these matters these days ” and if “these promises tend to be kept”. I have my doubts. But you are right, pages have been devoted in all the dailies - even in the Bangalore based ones - on the various competing promises (and mostly as to how ridiculous the claims are). What pained me was someone like the federal Finance Minister backing it and when you see the guy making statements - given his credibility and standing on the general Indian economy - you tend to think “who is the one really speaking the truth ?”. Oh well. But then how many elections are based on sound logic…..?