Indian Politics – The meaningless Youthful Propaganda.

Syed Shoaib

 

 

 

May 16, 2009. India’s Election Results are out. UPA swept the majority and is set forth to remake its government for another term.

The Day long news channels ran their repeated assessment of the elections. However one thing to be worth noting was that there was the propaganda that UPA did well to represent the youths in the country, that it did enough efforts to involve youths into the political arena. One of the major consensus which is being propagated through the media is that the big-wig white mustached politicians in India need to be replaced by young enthusiastic Indians. The hoo haa is such that as if this solution is the only and main solution to most of India’s problems.

One doesn’t need to use much of intellect or do deep research in order to understand the truth. The notion propagated in the name of “youthfulness” is chiefly  a foolish contention that easily seems to brainwash people’s mind and divert attention from real time agendas. Today only one of my friend’s called me and wished how good it were if Rahul Gandhi was to be the new Prime Minister, since he was a younger contender than Manmohan Singh (who is believed to be a honest man and is a Harward Economist). It is as if being younger is a passport to being more intelligent and dedicated towards better and effective policy making.

It is wonderful for people to believe there nation being led by young dedicated enthusiastic youths. It serves music to the ears.

However, side by side, it seems not only a political propaganda it can also serve as a boon for making the Indian culture more consumerist. It can very well be a corporate agenda as well. In today’s society youthfulness is also a representation towards being more westernized in the way of thought. Youthfulness has little to do with maturity of intellect, then it must have other realms which it has to do with. And these realms essentially represent the interests of  people who have been involved in creating this system of propaganda. These are the politicians themselves and may be some of the corporate conglomerates who envision this propaganda for their own gains.

However one of the popular notions and a valid one against my contention can be that India strongly needs a change in the system of leadership in order to break free from the chains of corruption and narrow mindedness. However it must be kept in mind by every reasonable individual that the stream of young leaders in India have no weaker records in corruption and crime than the elder ones. In fact the younger ones are in some way or other are simply related to the white haired big wigs.

In a democracy it is fundamentally pressing for people to be heedful and make informed choices rather than falling for delusive practices which tend to manipulate the information on which the people exercise their choices. People’s lethargy in dedicating themselves to making right choices and then the ensuing vulnerability to fall to vicious propagandas (like this one) can create havoc in regard to channeling unlimited goodies towards the privileged who have the privilege of creating these propagandas and manipulating minds and wealth into their favor. Such heedlessness has chiefly been the reason for widespread failure of democracies.

It is the pressing need of time for Indian people to realize the truth and be focused toward more pressing issues (which are nearly uncountable) than the youthfulness of politicians.

One of successive articles, God willing, would focus on the need for being politically heedful in our times and how indispensable a necessity it is, if we are to secure our planet and secure the people and their rights in it.

Indian National Assembly Election Results Out – UPA Sweeps other contenders out

Syed Shoaib

Saturday May 16, 2009 – The National Assembly Election Results have been declared nation over. Quite unlike everybody’s expectation the Congress Party amassed 200+ votes itself, restoring itself to the glory of past. The nearest to this number was reached in 1989 under the helm of late Rajiv Gandhi.

Congress leading the UPA Alliance is now set on track to continue governance and the decision has been announced in public by the leader of Congress, that the existing Prime Minister, Manmohan Singh would continue to hold his office as the Prime Minister of India for another term.

The biggest surprise would have come to the leading opposition party – BJP which lost heavily to UPA. The BJP has been known to persevere communal practices in the name of nationalism. The BJP leader, Lal Krishna Advani is believed to be taking retirement now from his political career.

One of the biggest surprises as well is the big loss of Communist Party in India. It managed to gain control of a little over 20 seats. The party has faced staunch criticism in recent times over its both – going to extremes in practicing it as well as abdication from its ideology when ever it seemed profitable.

The opposition leaders have accepted defeat and the UPA Alliance is set forth to remake government for another term.

The Rational Economist with irrational Models…

I remember once I asked one of my teachers, madam Apala Panda, regarding the use of pervasive models we study in economics most of which are based on imaginary world axioms and extended (beyond reasoning) assumptions of rationality of economic agents. It was then the beginning of my third year in economics honors and today whilst I pen this, it is almost the near end of the same year, with one examination paper remaining and due on 20th of May.

Economic models never fetched much of my interest mostly for their distance from reality and incompleteness they represented. When I asked my teacher the use of studying such incomplete models, she replied that these models were here for our understanding of basics of how economic mechanisms take place in society. However it had always been my contention since then and it is: most of macro economic mechanisms are not so complex in their complete sense that students would be required to learn them in years through the means of imaginary world scenarios.

Moreover these models over years have not been used solely for teaching economic fiction to students but it is conspicuous that they have been applied in the real world, they have been accepted as established economic theories and have brought overwhelming failure in regard to their application. For e.g. the case of rational expectations hypothesis; this exaggerated hypothesis which adds the notion of rationality to each economic agent and goes on predicting outcomes ensuing from this rationality has not only been present inside the classrooms but was one of the single most important reasons behind emergence of the present economic Crisis. The policy makers simply believed that individuals (economic agents of course comprise of individuals) are far too rational to let major price bubbles appear, let alone go out of control. One only needs an idiot to take such an assumption, or is there something severely different about the rationality of policy makers and economists?

Models of such vagueness can be found profoundly in the economic arena, both in literature and in practice. It is no doubt that these models can be completed and being directed in their completeness they can be put to successfully achieve well desired goals and objectives, but that is not the case often. Neo Classical and Classical literature in spite of its bizarre assumptions has been in the mainframe of economic practice since decades and has successfully made cases for elusion of government intervention in various ways.

In this theatre of rationally driven economics there is no reason behind carrying out errant and flawed concepts when there errors and flaws have been openly documented over years both in theory and in practice.

Rationality is not best explained by outcomes, but it is explained by intent. It is clear over years that unbridled classical capitalism has not been able to bring stable prosperity to the world, it has driven the world through bubbles, wars, crisis… But what if bringing stability and prosperity has not been one of its intent. As Prof. John Cozy argues in one of his articles,

But what if its intent has never been the promotion of the people’s prosperity? What, if any, result has it attained consistently? Well, it has consistently protected the wealth of the privileged; it has preserved the status quo. The wealthy privileged increase their wealth in good times and in bad. The system works for the privileged just as the market works for stock brokers who make money when prices are rising and when they are falling. If this is capitalism’s intent, and the evidence for it is overwhelming, understanding the Obama administration’s, and the developed world’s, response to the current economic downturn is easy. As the meager apparent wealth that the common people acquired during the better years now disappears, as they lose their jobs and homes, the wealthy institutions and the people who manage them and created the downturn are rewarded and prevented from failing by obligating the common people to someday repaying a growing colossal national debt incurred for the sake of those privileged. None of this makes sense unless capitalism’s intention is to preserve the status quo at the people’s expense.

This goes on explaining the rationality behind myriad irrational and unnecessary axioms of economics. Books are written, laurels are made, awards are given often to some of the most errant texts written. All this is facilitated primarily by a wealthy few in order to sustain their hegemony in the world.

Today we hear a lot about maintaining the strength of financial markets and maintaining the availability of cheap credit in order to reach higher levels of production and consumption. But it is so that businesses should be financed by investment and consumption by earning? What is the need to finance these by debt? One of the columnists at Global Research pens as under:

The answer is really very simple. The wealthy increase their wealth by lending and they do it without even having to use their own money by means of the Ponzi scheme known as fractional reserve banking. And when debtors cannot meet their obligations, their assets are acquired by the wealthy at fire sale prices who then become even wealthier. This is what capitalism does; it does it consistently and spectacularly. It really can have no other purpose. Credit is good only for creditors; debtors always lose.

I would just like to end with few important words from John Cozy:

What is there about this that economists cannot understand? Are they absolutely irrational or complicit? Each must answer for him/herself. But the economic system they advocate is nothing but an irrational tower of Babel that is based on principles derived from simplistic, imaginary situations and assumptions about rationality that are contradicted by hundreds of years of evidence, and is devoted to the worship of Mammon which benefits only the rich. Capitalism has been very successful; it has impeded the improvement of the human condition for two hundred years, and unless it is scrapped, it will continue to do so. No mere change in government can stop it.

It is complicated for a student today to understand these concepts. Specially in our age when even education is commercialized and what aspiring economics students aim for is degrees rather than pure knowledge amidst the realms their rational lives dominated by the motive of self centeredness. What the ongoing academia churns out is more and more economists walking the same deluded lines, sustaining the same unjust and corrupt system, gullible to believing that the self centered economic agents would contribute to the development of this world.

There are countless cases to justify the above points though i don’t think more are needed. What is needed is for people to realize the need for change and escape this virulent brainwashing and be heedful individuals.

Is percapita income suitaible indicator to measure Economic Development?

This question has many substantial and subtle aspects. These arise from the delusion among various economists, leading them to use GDP per capita as ultimate means and end towards economic development; to the scope of using GDP per capita as a means of signaling development and the signals it sends among policy makers in regard to the importance of GDP per capita as a statistic variable.

Before drawing conclusions from the table in favor of a placid yes or a placid no, one must comprehend the theory as to why GDP per capita can be effective or ineffective to signal development and to the extent to which it can serve a proxy, as well as the purpose, using GDP per capita serves. And it should also be compared with Human Development Index in regard to how much composite an index both serve in order to reflect upon economic development.

Increase in wealth and Economic Development

As Aristotle said, “Wealth is merely useful, and for the sake of something else”, it is precisely that ’something else’, in which the signals and understanding of development issues should be sought.

As one of my friends says, “The definition of development is an ever evolving abstract” (noting the importance of innumerable parameters, and pervasive spheres of economic and social life and the dynamic kinetics involved with the ever evolving issue of economic development), in this light, the most abstract definition is ironically the most precise definition as well.

A precise way to see economic development is seeing in terms of the expansion of real freedoms that the citizens enjoy pursuing the objectives they have reason to value, and in this sense the expansion of human capability can be, broadly, seen as the central feature of the process of development. Human life can be seen as a sequence of things a person does, or states of being, he/she achieves, and those constitute a collection of functionings – doings and beings a person achieves. ‘Capability refers to the alternative combinations of functionings from which a person can choose. Thus the notion of capability is essentially one of freedom – the range of options a person has in deciding what kind of life to lead.[1]

Some of the most important freedoms people have high reason to value are education, health, right to justice, information, equality etc. It is very much possible and evident today that increase in income may not serve that purpose. For e.g. South Africa had a per capita GDP of US $ 11,192 PPP in 2004,managing an HDI rank of 121 from among 177 countries, while at the same time Sri Lanka which had a per capita GDP of US $ 4,390 PPP suffices with an HDI rank of 93.[2] Such variances are not scarcely found in the HDI report. However it is best to keep it for the later part of the essay, as to how much composite an indicator of economic development HDI, in itself is. HDI is one of the most widely used indicators inclusive of variables of primary importance in relation to comprehension of developmental issues and thus in that regard it merits our attention.

As was stated above, wealth in itself is of no use, what is of primary importance is the increase in economic and social opportunities it leads to and it is in this light that economic development should be seen.  The problem of poverty is the essentially a problem of capability deprivation. Thus in the process of development ways and actions of institutions and organizations must lead to augmentation of capabilities of masses (which is amply related to the broadening of sphere of economic and social opportunities prevailing) .  To list these capabilities and have a brief synopsis of each one would take innumerable pages, so in our quest for a composite index of chief indicators of development we land at HDI.[3]

Freedoms and Means and Freedoms as End:

It is very important to see freedoms and means and freedoms as ends to development and to view economic development as increase in human freedoms. The connection between freedom as means and freedom as end would have indeed been trivial had there been only one kind of freedom, but innumerable freedoms of people are  largely interlinked and at the root of this interlinking lies the ability to use one kind of freedom to boost another kind of freedoms. The integral nature of human lives leads to inescapable interrelation between different domains of living. For e.g. lack of freedom in the form of illiteracy can dampen severely a person’s economic opportunities. Apparently increase in wealth may or may not lead to desired objectives of development. At this point it would be useful to point, having sufficient understanding of the scope of development; to some examples (this would also lead to more clarity as to how expansion of freedom as a means of development almost invariably leads to a better and more suitable end):

• When one looks at countries like Albania, Armenia and Philippines, having HDI ranks of 73, 80 and 84 respectively in contrast to their counterparts at respective positions, these countries with per capita income of less than US $ 5000 outlive them who have per capita incomes of the magnitude to US $ 13000 PPP as in case of Saudi Arabia (Albania has higher rank than Saudi Arabia). This tells us amply that using per capita income as a proxy can send quite elusive signals in terms of development issues.
• Another most important point one should look at are the lack of substantial freedoms in many high income countries. For e.g. the lack of education in Saudi Arabia, Trinidad, Tobago, Oman, Turkey, Iran etc. (based on GER) severely hinders political voice of the deprived, a government in such situation may be immune to public pressure in many devastating cases in such a situation.
• Another most important point is the lack of substantial political freedoms and basic human liberties such as the freedom of speech, right to equality to simply absence of a democracy which is profound in various high income countries like Saudi Arabia, Iran etc. Unfortunately these imperative freedoms do not get reflected either in per capita GDP nor in HDI.
• There have been experiences in our near history, with favorable economic growth and unfavorable consequences. The example of USSR, which did favorably well in department of having a high GDP per capita, but witnessed severe unfreedoms.[4]

It should be now understood that seeing per capita income as a primary signal for development can send quite elusive signals. However focus on augmenting freedoms and capabilities and study of development issues in that light facilitates not only right signaling but also facilitates better policy making and better results. This is most importantly why countries like Sri Lanka etc, with per capita income lower than their corresponding counterparts in HDI index outlive them. As Debraj Ray points out:

Countries that pursue policies to broad based infrastructure and resources, such as health services and education, in all likelihood would find that economic growth is distributed relatively equally among various groups of society. Countries that neglect these features will show a greater tendency towards inequality

The above point is of critical importance because usage of a particular proxy for economic development also often signals developmental goals and objectives in that discrete direction Such an allocation of resources is often visible in India’s economic policies, which often show discrete obsession towards market liberalization and privatization.

In Terms of Concise Statistical Signals

Why a NO?

Human Development Index is a composite index of life expectancy, educational attainment and per capita income in an economy. The question is whether HDI in itself is a complete indicator of economic development? The answer is NO. The creation of composites from various fundamentally different indicators as life expectancy and literacy is like adding apples and oranges. It is arguable that these indicators should be read independently and interlinked according to context. This would obviously help in better understanding of how these relative capabilities are inter connected and the further impact they have on augmenting other freedoms people have, instead of creating a statistical index on first hand which assigns fixed weights to various variables in context. And inarguably HDI index can not act as a holistic indicator of substantial freedoms people have. For e.g. if people lack basic democratic rights, or right to justice or information, which are very important in themselves, it wont get reflected in a high HDI.

Why a YES? And in which CONTEXT?

However we also have to accept that there is consensus among development economists that per capita income is not the end to economic development. It is the quest for a precise variable to illustrate the multifaceted process of economic development. In words of Debraj Ray, “It is really about the view of the world – of the possibility of finding a smaller set of variables that correlates well with the multifaceted process of development. Note well that, saying too much is saying too little”[5]

In his study, Debraj Ray, plots scatter diagram of independent human development variables, taking per capita income on the x – axis and the development variables (life expectancy, adult literacy rate, Infant Mortality Rate) on the y – axis in 3 independent scatter plots. The result was found that the three variables did show high correlation and even higher rank correlation (rank correlation was done by Dasgupta (1993) Countries were ranked according to their GDP level and corresponding ranks in the three other variables).

The study positively asserts that there is high, albeit not perfect correlation between per capita GDP and economic development and per capita GDP can be used as a precise variable to show developmental discrepancies among various nations, but this use must always be done with caution and comprehension of context. Policy makers should always be heedful of proper objectives, which we have stated above as expansion of human freedoms and it is in that direction that decisions and assessments of policies should be made.

---

[1] Jean Dreze and Amartya Sen (2001)

[2] Human Development Report 2006.

[3] Always in development studies there has been a quest for a concise way of representing multitude of information, with a statistic variable, or a concise composite index; it is in this light that the use of Per capita income as a proxy should be seen and discussed, which we shall do at the end of the essay.

[4] Epoch Times Commentaries on the Communist Party – Part 8; December 26, 2004, The Epoch Times

[5] Chapter 2, Development Economics, Debraj Ray, OUP

Economic Development: Meaning, need and Concerns

By Syed Shoaib

Development means, “acts of improving by expanding or enlarging or refining”. But whose improvement and for whom? Quite apparently there is need for a people centered approach where in the real opportunities and freedoms people access do not get undermined under the guise of variables which fail to give an accurate picture of economic and social conditions. Development economics, as in ‘Fontana dictionary of modern thought” is described as a field that “in a broad sense comprises all work on the growth of incomes per head…”. Such a way of seeing the subject invariably precludes insight into farther ends into which economic development should be a means. Seeing increase in income as the sole means and end to development means to ignore the very ends to which increase in income serves as a purpose. Wealth is, to speak precisely, is “merely useful, and for the sake of something else”[1] (Aristotle). A precise way to see economic development is seeing in terms of the expansion of real freedoms that the citizens enjoy pursuing the objectives they have reason to value, and in this sense the expansion of human capability can be, broadly, seen as the central feature of the process of development.[2] Human life can be seen as a sequence of things a person does, or states of being, he/she achieves, and those constitute a collection of functionings – doings and beings a person achieves. ‘Capability refers to the alternative combinations of functionings from which a person can choose. Thus the notion of capability is essentially one of freedom – the range of options a person has in deciding what kind of life to lead.

It is quite apparent that capabilities like that of education and health are quite substantial freedoms in themselves, not only vivid in increasing productivity of worker, but also in form of pervasive cumulative effects education and health has on society. Likewise important are the freedoms of ability to participate in politics effectively, justice etc. and their distribution among the populous.

The World Situation:

When one sees the income per capita distribution world map, one in a spur of moment recognizes the skewness in distribution of incomes and hence the freedoms and opportunities various people have access to. Despite all the calls for world peace, removal of poverty, and so called efforts of World Organizations like the IMF and UN, the truth is that there are abysmal levels of poverty exist along with high deprivation from basic capabilities and liberties. Almost all of the Africa, the Indian subcontinent as well as China are regions of moderate and extreme poverty[3] and these are the regions as well with a major part of the world population. And that’s not all, with the exception of Egypt almost all of the Africa is growing at a rate less than five percent. Although economic growth is not an end for seeing freedoms people enjoy, but rapid increase in total output is very essential for a low income country in order to have substantial effect on the economic and social opportunities of people. This quite clearly signifies that despite of all the hoaxes for human rights, world organizations have continuously failed in keeping their commitments. The latest millennium development goals which are supposed to be achieved by 2015 are in a similar state of jeopardy as well[4], seeing the current performance of poor nations. With the exception of India and China, major chunk of underdeveloped countries face the tough challenge of breaking the poverty trap they are in. Even in India and China there is ample skewness in the way resources are distributed. An attempt to make a comparison between India and Sub Saharan Africa leaves us with the disappointment that in almost all of the human development indicators, viz. education, health etc. India still after years of liberalization and momentous growth rates does not have a clear upper edge over Sub Saharan Africa.[5]

Not less important in any way are the dangers of civil strife and political anarchy which prevail in many parts of the world and what has never seen absence from contemporary world history itself and often is an ensuing result of global geo-politics.

Freedom to participate In Governance. Institutions, Social Opportunity and Human Agency. Freedom as means and Ends:

In widespread acceptance and occupation of democracy, perhaps it is no other than people who can save people from handicaps like endemic illiteracy, civil strife, wastefulness of military decision, deteriorating environment, dearth of opportunities etc. The reach of positives of democracy however depends on the extent to which the opportunities offered by democratic institutions are seized and utilized. However when we see actions of those in power we amply see wastefulness and heedlessness towards the concerns and dedication for removing poverty. Such wastefulness such as done in bombing Afghanistan or Iraq (or even Indian and Pakistani nuclear tests done around 1998 for that matter) has its adverse consequences on the world economy, including the aggressor himself, which might not be apparent on first sight. Such misallocation of resources occurs with obstructing the way a democracy functions, obstructing and deluding people with ample media disinformation. Millions are spent in western nations every year to form predetermined public opinion, in the name of free thought.[6] These might not seem drastic in terms of consequences, elements like media disinformation and hampering of democracy can bring on people, but in reality such a control can have extremely adverse effects. It is always difficult for a weaker power to control a greater power, viz. governments and Corporations, where the latter outnumber and outclass the former with superlative edge. In such a case it is only peoples’ heedfulness and adequate political participation which can prevent themselves and others from misgivings of the governments. When one sees clearly, the burgeoning American Debt in a clear result of the negative influence of its Military Industrial Complex.[7] According to a paper by Joseph E Stiglitz, he estimates the hitherto economic cost of US led invasion of Iraq to be $ 3 trillion.[8] One can easily understand now the reason for US’s burgeoning Federal Debt (which stands at almost greater than $ 8 trillion), and decline of the dollar which is constantly loosing to pound and Euro. In contrast to all this US has constantly been unable to meet its ODAs (official development assistance, for commitment to MDGs), which accounted for no more than $75 billion in 2004.[9] A heedful citizen who has ample participation in national politics should be clearly able to see the consequences, misadventures with resources cause. Jeffrey Sachs in his book, “The End of Poverty” talks about the need for the rich to help the poor in very diverse ways and how necessary it, but it is so that those with power, unlike normal people, are, seldom interested in development; what they want is only more power. It is very important for the peoples’ agency of today to recognize the crisis and to use their rights, which are duties as well of fundamental importance, and to access their choice in most rational and conscientious manner. Or else perhaps, free choice would precisely only remain an illusion, created by those who have power, for those who have not. Proper functioning of democracy and people’s effective participation is always essential for maintenance of civil rights and liberties and proper allocation of resources.[10]

Arriving back to the issue of social opportunities and to the case of underdeveloped and developing economies there is a need to recognize that human agency and social opportunities should not be viewed as isolated terms. The crucial role of social opportunities is to expand the realm of human agency and freedom, both as an end in itself and as means of further expansion of freedom. Both, developing and underdeveloped world yet has to mature with this view and understand the impetus of social infrastructure in this regard. The third world acutely lacks a sound institutional structure in this arena. The options that a person has depend greatly on relations with others and on what the state and other institutions do. Special concern is needed for opportunities which are strongly influenced by social circumstances and public policy, especially those relating to education, health, nutrition, social equity, civil liberties and other basic aspects of the quality of life.

Global Cooperation:

Jeffrey Sachs in his book talks about a “Global Compact to End Poverty” and “Can Rich afford to help the Poor?”. With the institutions like United Nations and its miscellaneous development programmes and agencies it is quite not difficult to reach to the poor and deprived masses and help them. When one sees and analyzes the situation of Sub Saharan countries and more importantly the land locked ones, one comes upon the need they have for assistance, being trapped in rudimentary economic and social infrastructure and abysmally low income. There is not only need for funds but also for guiding the governments and people on better utilization of opportunities, for helping them develop sound democratic structure.

There is equally ample scope for voluntary movements. For e.g. the NGOs in Sub Saharan countries have been struggling in area of providing health care which stands at one of the most primitive levels. Voluntary movements both promote innovation and growth in terms of effects they have on people. One of the soundest examples of voluntary movements is “The Grameen Bank”, started by Muhammad Yunus, which has now spread at a dramatic pace across the globe. The bank officials, not only assist people getting loans to their requirement[11], but also provide consultancy to them on using their funds in an effective manner, educating people on the opportunities they have. Movements like those of encouragement to social entrepreneurship have also been very profitable in terms of expanding the economic and social opportunities of people in underdeveloped areas.

There is a great scope for international assistance, and undoubtedly there is a great need for it as well. And there is a demanding need to put restraint on those who have power from creating misadventures with scarce resources and to canalize them in the right direction, and the agency that can do so is again the peoples’ agency until the time democracy remains effective. Peoples’ right to live lives of intrinsic as well as extrinsic importance should not be undermined, especially not when there are ample resources to prevent this from happening.

It is in this light that economic development should be viewed and not in increase in production of inanimate objects. There is essential need for people centred approach, undermining which has often drawn critics to the subject of development economics itself, and has often also provided political scientists and historian with an esteemed upper hand.

---

[1] Aristotle, the Nicomachean Ethics.

[2] Jean Dreze and Amartya Sen; India: Development and participation (2001)

[3] World Bank Report: Moderate poverty and Extreme Poverty (2004)

[4] The Millennium, 9/11 and the United Nations: The End of Poverty, How can we make it happen in our Lifetime, By Jeffrey Sachs

[5] India in Comparative perspective: Jean Dreze and Amartya Sen (2001)

[6] The Loneliness of Naom Chomsky: An Ordinary Man’s guide to Empire by Arundhati Roy

[7] America’s war on terror: Michael Chossudovsky, University of Ottawa.

[8] War costs and costs and costs, by Prof. Joseph E. Stiglitz – Global Research, March 15, 2008

[9] The End of Poverty: Jeffrey Sachs (2005)

[10] The case of such misadventurous plunders which are not uncommon in history, also witnesses decreases in social opportunities and real freedoms people enjoy. For e.g. acts like The Patriot Act, decreased public expenditure in areas like Health and education, excessive millitrisation etc.

[11] Requirements of poor masses are not as similar to that of middle class. Their loan requirements range from plans to start small trades to having a temporary roof on their heads, or having daily medicines.