I sometimes wonder about the colour coding of currency: why legitimate
money is ‘white’ money and illegitimately acquired money is ‘black’ money, even
though we Indians are legitimately brown and black, and the colonizing chaps
who came here as thieves and robbers were ‘white’!
But this blog is not about racial language. What I would
like to ask readers is that while there is so much
noise about Black money, how come so little has been said about White economics? Because
Black money is not so much our problem, fundamentally, as is White economics.
By White economics, I am referring to the ways of business
as it has evolved among European colonisers, which is now being globalised. The
basics of White economics are that it is: debt-driven, profit-driven, free-trade-driven,
consumption-driven, and competition-driven. Since 1991, we in India too have
followed and practiced White economics, and what is the result after 25 years
of this experiment?


