India is a Country, Not a Company: How US ‘Imported’ Economists Misled & Mismanaged Indian Economy | (2nd Edition)

ABOUT THE BOOK:-

First published in 2018, this book’s impact ensured that none of the Top 3 positions (RBI Governor, Chief Economic Advisor & Niti Aayog Vice-Chairman) got filled since then by imported economists!

With 110 easy-to-understand charts and tables analyzing the global economy.

“Sometimes, an outsider can analyze data better than experts in the field.”

— Dr. Arvind Gupta

Director of Vivekananda International Foundation (VIF), former Deputy National Security Adviser, Secretary, National Security Council, Government of India (2014–17), while introducing Dr. Susmit Kumar when he gave a talk on the first edition of this book in March, 2018 at the VIF.

During World War II, when Hitler was in control of entire Europe which had its economy destroyed and needed huge money for reconstruction from the US and majority of other countries were still under their colonial rulers, the US made its currency dollar as global currency. The US just prints its currency, whenever it wants, to fund its trade deficits and budget deficits. According to economist Allan H. Meltzer at Carnegie Mellon University: “We [United States] get cheap goods in exchange for pieces of paper, which we can print at a great rate.”

The US Dollar is a Ponzi scheme. The US just “prints” its currency to pay for its import from China and other countries and then in return such exporting countries, including India, deposit those dollars in US in government bonds and in the US share market. Unlike the US, India cannot print its currency to fund its deficits.

Except the US, other three economic superpowers, Germany, Japan and China have trade surplus for more than three decades whereas due to the influence of the US “Imported” economists, who enforce and preach the disastrous “Reaganomics” policy, India never has trade surplus any year even after three decades of economic liberalization. India can never become an economic super-power without generating trade surplus for a decade or more to amass sizeable FOREX, like China has. Apart from this, there is a need for India to be self-sufficient in all its mass consumption items, at the earliest. “Reaganomics”, the economic policy followed by the US since 1980s, has bankrupted the US and also transferred nearly all national manufacturing and service sector jobs to other countries.

US economists, management gurus and Wall Street have created the Frankenstein (Bhasmasur) China and sold the US to it. China has generated trade surplus since the 1990s and accumulated $4 trillion FOREX, hence it is now on the verge of replacing the US dollar with its currency Yuan as the global currency. The US style capitalism is fast hurtling towards its 1991 Soviet Union collapse moment, leading to the global economy staring at an economic depression greater than the 1930s.