Since when a biased market has become the cornerstone of capitalism? If Mr. Gurcharan Das is trusted, parallels can be drawn between this capitalist regime and monarchy where rules are created and bent to favour the one in the power and disqualify others (ICL) in the game, where the government maximizes profit by paying no tax. Calling Lalit Modi a visionary entrepreneur is a slap on entrepreneurship itself because a platform was designed by BCCI to make IPL a success. Modi was just an audacious management brat who was simply riding the tide. In business the performance of an enterprise can be measured by its actions which can range from being legally-incorrect to ethically-correct. It is the responsibility of the government to bridge the gap between the two by legally binding the things that are morally incorrect; no institution is expected to be ethically right all the time, they are just expected to be legally appropriate. This is where Modi & Co. failed to set the standards of a successful business. Nobody expected them to be flag bearers of social principles, but, they could have at least shown some decency by respecting the law. Mr Das can find merit in Modi's argument of IPL being a trust by servicing the game of cricket making tax non-essential but I, as a common man, see tax evasion and hence stealing of public money. And who can justify the denial of players, grounds to ICL?
Since when a biased market has become the cornerstone of capitalism? If Mr. Gurcharan Das is trusted, parallels can be drawn between this capitalist regime and monarchy where rules are created and bent to favour the one in the power and disqualify others (ICL) in the game, where the government maximizes profit by paying no tax. Calling Lalit Modi a visionary entrepreneur is a slap on entrepreneurship itself because a platform was designed by BCCI to make IPL a success. Modi was just an audacious management brat who was simply riding the tide. In business the performance of an enterprise can be measured by its actions which can range from being legally-incorrect to ethically-correct. It is the responsibility of the government to bridge the gap between the two by legally binding the things that are morally incorrect; no institution is expected to be ethically right all the time, they are just expected to be legally appropriate. This is where Modi & Co. failed to set the standards of a successful business. Nobody expected them to be flag bearers of social principles, but, they could have at least shown some decency by respecting the law. Mr Das can find merit in Modi's argument of IPL being a trust by servicing the game of cricket making tax non-essential but I, as a common man, see tax evasion and hence stealing of public money. And who can justify the denial of players, grounds to ICL?
The vital charecteristic of Lalit Modi is his enterprenuership. This has to be acknoledged and applauded. Without this vital ingradient, an entity like IPL could not have taken off.Other issues like ethical procedures in business also needs to be examined. But, by whom? Not BCCI which is a monopolist organisation which thrives on exclusive powers rather than any inherent effeciencent structures or systems.Let us not forget it was the BCCI which derailed Zee and Kapil Dev's ICL.
How come nobody (even opposition) has demanded explaination from sharad pawar about his son in law sadanand sule having a 10% stake in MSM? Sharad pawar says he didnt buy it but inherit it.Even assuming this, since MSM got the global rights for IPL with his father in law in BCCI, isnt this a conflict of interest? Sadly even BJP is going 'soft' against the government regards IPL case since Lalit Modi was close to Vasundharaje Scindia (a position from which he made millions) and also Arun Jaitley was a part of the governing council
Re: capitalism is reality socialism is mere slogan
by slater on May 09, 2010 08:49 PM
right thought. IPL needs to be fixed but who should do the fixing ? Not some IAS babu I hope ?
Crony capitalism has farted in the face of the West. Most countries are trying their best to come terms with its slap. Men like the writer applaud animal spirits and devious modes of this capitalism . The intellectuals warn as they can see the pitfalls of mindless actions, that have far reaching consequences on the society . They do not envy Modi or his hare-brained schemes.To win be fair means is a big thing for any nation or society.
Gurcharan with many specious arguments validates IPL and it brass-boy LALIT MODI. While commerce is an accepted element of all societies ,profit by illegal and underhand means is not acceptable. Just capitalism is a wondrous instrument of growth but creating bubbles to lead the crowds astray definitely gives capitalism and Modi a bad name . It sucks and it stinks !!!!!!
The author seems to have got his theory of capitalism all wrong. By his theory he is condoing the acts of those in power to wear the facade of capitalism and amass gains for themselves unlawfully, unethically.
That is NOT capitalism.
In his article the author has projected Modi almost as the ultimate captalist. Unfortunately, it is due to people like Modi that capitalism if yet to find its comfortable home in India.
Problem is, learned men like Gurcharan Das, in their bid to defend the theory make martyrs of criminals and do more harm to the concept.
Mr Das, it is not capitalism which is at stake. It is integrity which is at stake. And no market theory condones individual who takes it integrity for a ride. The more you glorify such individuals, the more harm you do to the market theory by which they have committed the ills.
IPL is in trouble not cause of the status of capitalism in India. It is in trouble, cause of integrity issues on the part of its main office bearer (like it was for Enron or Satyam). Lets not help the criminal hide by transferring his guilt to the whole nation. Its like saying I have killed my neighbour cause my neighbourhood is bad.
Re: IPL in trouble
by kush chatterjee on May 09, 2010 07:58 PM
And definitely IPL is not the metaphor for a new India.
If new India is personified by the shady, murky dealings of a proven criminal like Modi, then God save my country.
Please stop eulogising the wrong causes and the wrong people.
IPL is like Enron. A seemingly successful organization built upon the corruption of its top executies. The day the corruption came to light, the organization collapsed like a pack of card. Same is the case with IPL. Don't blame any system for the trouble that IPL is in. IPL's trouble is only cause of Lalit Modi not running the organization with integrity which he was supposed to do.
By making martyr of Modi, you are insulting the bastions of capitalism in India, like the Tatas, who had upheld the importance of private entrepreneurship with integrity and over centuries.
You make me sick Mr. Das. After reading your article, many people will be misled to believe that capitalism is a market concept that does not come with the responsibility of individual integrity. Did you really mean that?
historically indians are good in money matters.british colonialism smashed indian economy. after independence nehruvian socialism could not deliver much. free market after 1991 helped us. to progress further we need good infrastructure -bijli,pani ,sadak,school,hospital. like china has done.corruption is like gas in the stomach-to some extent inevitable. but it should not become diarriah. the system should be able to catch and punish people like lalit modi.but entrepreneurship-honest one - should be nurtured.
