{"id":2585,"date":"2002-12-26T11:33:46","date_gmt":"2002-12-26T06:03:46","guid":{"rendered":"http:\/\/alpha.ravikiran.com\/blog\/2002\/12\/26\/chickens-coming-home-to-roost\/"},"modified":"2002-12-26T11:33:46","modified_gmt":"2002-12-26T06:03:46","slug":"chickens-coming-home-to-roost","status":"publish","type":"post","link":"https:\/\/www.ravikiran.com\/blog\/vintage\/200212\/chickens-coming-home-to-roost\/","title":{"rendered":"Chickens coming home to roost"},"content":{"rendered":"<p><cite><font size = -1> Nehru and Indira Gandhi created a big capital goods industry behind protectionist walls. This made India widely admired at the time, as a country that could rival the West in technical attainment, even if at higher cost. But today the policy of subsidizing heavy industry behind high tariffs stands exposed as a truly terrible policy. It made India admired for all the wrong reasons that made the Soviet Un?on admired too. The Soviets also built second-rate factories with high-cost machinery, yet for decades was admired as a once-backward country rapidly catching up with the USA. We know today that was a statistical illusion.<\/font><\/cite><br \/><a href=\"http:\/\/swaminomics.org\/articles\/20021222_china.htm\">Swaminomics: How to compete with China<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nehru and Indira Gandhi created a big capital goods industry behind protectionist walls. This made India widely admired at the time, as a country that could rival the West in technical attainment, even if at higher cost. But today the policy of subsidizing heavy industry behind high tariffs stands exposed as a truly terrible policy. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/posts\/2585"}],"collection":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/comments?post=2585"}],"version-history":[{"count":0,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/posts\/2585\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/media?parent=2585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/categories?post=2585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/tags?post=2585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}