A Not So Loony Tune
Times of India: Jagdish Bhagwati, the distinguished international trade economist, saying in affectionate
appreciation of Abid Hussain, one of India’s greater economists. Obviously it is meant as a
joke:
“He loved the
witticism that the problem in India was that Adam Smith's Invisible Hand was
nowhere to be seen.”
If it doesn’t make
you smile, you should get out more …
1 Comments:
“He loved the witticism that the problem in India was that Adam Smith's Invisible Hand was nowhere to be seen.”
I wonder in what context Hussain saw Adam Smith's invisible hand? Was it in the context of 'domestic bias' or the more contentious one of it leading markets?
Hussain was right about immigrant Indians being of great benefit to America. At one point they were the wealthiest immigrant group in America.
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