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Rich Country, Poor country & others March 27, 2007

Posted by Sharath Rao in economics, humor, sport.
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When I first read these opening lines of the column, I thought its about the spam mails you get from Nigeria/Chad about making you rich etc. But, its more serious than that. Maybe slightly one-sided, but informative article nevertheless.

For the last 10 years, people in China have been sending me money. I also get money from countries in Latin America and sub-Saharan Africa — really, from every poor country. I’m not the only one who’s so lucky. Everyone in a wealthy nation has become the beneficiary of the generous subsidies that poorer countries bestow upon rich ones.

Link from here.

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This catch sure is great, but look at the first 3 comments to this video – an exchange between “craigclarke” and “razawaqas007” 🙂

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Why someone thinks academia is cool; and I tend to agree 😀

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The funniest thing today is buried in an article by Gary Becker :

In 1989 I visited Poland as that country was beginning a transition from a socialist state to one based on private enterprise and private property. In a meeting with the head of the ideology department of the Communist Party, I asked whether private property is consistent with communism and socialism? His answer was that they were still debating that! The Polish Communist Party was shortly afterwards swept out of power before the ideologues could provide an official answer, but China has now given its own answer.

Did I read that right – “Department of Ideology” ! I know, I know, its something like the other folks having things like conservative/libertarian think-tanks etc. Funny nevertheless. But its like Vinod Mehta’s suggestion that we in India should have a “Ministry of Implementation” ! How about a ministry that decides what ministries we must have and a committee that decides who should be in which committee ?

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