Opinion Real growth
The article Credit where its not due rightly lists the causes of and precautions against a future crisis. Credit-rating agencies should do...
• The article Credit where its not due rightly lists the causes of and precautions against a future crisis. Credit-rating agencies should do their job more responsibly. Timothy Geithner,Lawrence Summers and Barack Obama have stressed the need for tougher financial regulations and reforms,while some economists see the crisis as a failure of finance and not economics.
Also,some financial institutions are too big to fail and need support. But if the massive liquidity is not tackled in time,itll cause inflation and another bubble. Mere growth in the finance sector is illusionary. Long-term growth is possible only if theres growth in the real economy.
Shishir Sindekar
Nasik
Yet again
• This refers to the report We diverted US funds… . After the Pentagons expose on the misappropriation of funds by Pakistan for military preparations against India,now its the former Pakistan president who has admitted the misuse of US funds. This admission should serve as an eye-opener to the US. If even after these revelations the Obama administration continues to aid Pakistan on the pretext of fighting terror,India must realise that the US is also helping Pakistan against it.
Manoj Parashar
Greater Noida
Innate,not imposed
• This refers to Holy cows,Anti anti-hypocrisy and Age of Austerity. The Indian Express should be commended on its campaign on austerity vis-à-vis governance. Austerity should be a philosophy,an innate characteristic. Further,Spanish tiles and Italian porcelain are not necessities; at least Shashi Tharoor and S.M. Krishna paid from their pockets. If one looks at our history for instance,the dinner Nehru hosted for Chou En-lai one can take stock of the humility that characterised our past.
Prasad Malladi
Nidadavole
Not the system
• Ashutosh Varshneys argument is based on a poor caricature of the consociational model,which he seems to imply necessarily required separate electorates for communities and a single communal party to represent their interests. The model is an inclusive variant of liberal democracy,not its negation,which,while still treating the individual citizen as the unit of polity,seeks to protect the legitimate group interests of segments of society.
In any case,the Congress did accord recognition to interests of groups based on caste,class,culture,language and religion within a common nationhood; hence the constitutional recognition of the rights of these groups,including of religious minorities. It was not the consociational versus the liberal model that caused the final parting. It was a manufactured,mutual sense of siege among Hindus and Muslims that made one distrust any suggestion from the other. What caused that?
Iqbal A. Ansari
Aligarh
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