diThe recent debate on POTO helped draw our attention on failure of rule of law. Although the Supreme Court in Jayalalitha case held that rule of law is supreme, in reality our incapacity to enforce rule of law has done immense damage to our polity and has become an impediment to economic growth. Right to property, sanctity of contracts, mechanisms for peaceful resolution of disputes, public order, and a system of fair and equitable laws well-enforced are the prerequisites of economic growth. We clearly need strong measures to promote peace and order.

The recent paralysis of public transport in AP on account of the RTC employees strike once again brought to the fore the debate between public sector and private sector. That we need competition and private initiative for improving productivity and quality of consumer goods and services is by now well-established. While there may have been a case for public investment in sectors like steel, government dabbling in business did more harm than good in the long term.

Starting this fortnight, the nation began to celebrate with great fanfare and nostalgia the birth centenary year of Loknayak JP. For a whole generation of youngsters, in whose lives the emergency period was a defining epoch, JP remains an authentic hero. Only those who lived through that period will understand the ecstacy and hope with which the fall of congress and the victory of the fledgeling Janata Party on March 21, 1977 were welcomed. Those were days of great expectation and genuine belief that a peaceful revolution had indeed begun.

Since Black Tuesday the whole world has been glued to television, transfixed by the  horror unfolding in front of their eyes, thanks to endless replays of the gruesome tragedy.  The American response was even more fascinating.  Initially there were signs of panic and confusion.  Quickly they gave way to order, and a cold fury and cries for resolute action. Blind rage and demands for ‘bombing Afghanistan to stone age’ are replaced by more measured, calibrated responses.  The system found effective direction and leadership.

dir="ltr">As Mark Twain said, nothing concentrates the mind more beautifully than the knowledge that one has only fifteen days to live. As the political and economic crisis is worsening, and as illegitimate and unaccounted election expenditure is skyrocketing (there are instances of candidates buying votes in village panchayats spending Rs 1.5 crore!), parties are showing belated but welcome signs of eagerness for political funding reform.

The call of the prime minister to depoliticise, debureaucratise, democratise and professionalise the cooperatives has come not a day too soon. From Gorwale committee (1950’s) to Khusro committee (80’s) and now the Task Force on cooperatives led by Jagdish Capoor, there is no dearth of expert bodies and reports on the role and health of cooperatives. As usual, what is lacking is resolute action. The state of cooperatives is a classic illustration of bad governance affecting economic institutions.

Charity has been integral to our society and culture. But much of charity has traditionally been for pious causes - like temples and choultries, or to help indigent individuals. Most often there is a perceived link between charity in this world, and the rewards awaiting you in the othe rworld.

Exactly a decade ago the Narasimharao-Manmohan Singh duo initiated the economic reform process under severe fiscal compulsions. The process has been incomplete and there have been many problems. But even the worst critics of economic liberalization would admit that there are many successes. Moderately high growth rates have been sustained for a decade. Inflation has been under control. Consumers have far greater choice now, with quality of goods improving, and prices declining.