Saturday, August 12, 2006

Privatization Reform in India

He appears at first to be a compasionate captialist, but then he lets the cat out of the bag.
Reforms have not benefited poor: Narayana Murthy

Bangalore, Aug 12: Software icon N R Narayana Murthy, who has often termed Infosys a shining example of economic reforms initiated in 1991, said economic liberalisation has not touched the poor and makes no sense unless it addressed their basic needs.

"I keep telling my colleague Nandan (Nilekani, CEO of Infosys) that it's funny in this country that we can buy whatever...BMWs...we can have 800 channels on TV...All of that," the Chairman and Chief Mentor of Infosys said.

"But the real progress in India has not taken place simply because the reforms have not touched the poor people," he said at a book release function here today.

"Unless you address the basic needs of the poorest of the poor, which are decent primary and secondary education, decent health care and decent nutrition...All of this (reforms) makes no sense".

"Unless, we completely delicense the primary and secondary education, unless we create an environment where more and more investment get into primary health care, I don't think we can truly claim to have embraced reforms".

There ya go privatization is a failure in India because they have not privatized education and health care. Like the WTO, World Bank, and IMF this compasionate capitalist sees only one solution to poverty, increasing privatization. Which of course by the real world example of Bolivia was and is a complete failure.

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