Jayaraman Rajah Iyer is a buddy of mine. He comments on economic issues and always has something interesting to say and often controversial as well.
Here are his comments in full.
I quote from my bookmark of Washington Post by Jim DeMint “On Sept. 12, 2009, millions of citizens rallied across the country. They gathered in the nation’s capital and other cities to convey a clear message: You work for us; we don’t work for you. Stop the bailouts, the takeovers, the debt and dependence”
In response to the first amendment Freedom of Speech, ‘Government for the People’ maintains stoic silence and conveys ‘yell as you like. Always, it is Government for a few people’.
In India we do have to go a long way in bringing the Government tuned to the people. Those who are trying, struggle but no comparison to the struggle of the masses who exist below poverty line, a 550 million of them. However, there are some initiatives from the government that were put through some years back, would be of considerable interest to the people of United States. It was in 1965 that the government of India brought out a compulsory Cost Audit for manufacturers of vegetable oils as an essential commodity for the masses. Every fortnight companies like Unilever had to go to the government for permission to increase the price of a tin of vegetable oil justifying in detail the cost escalation the company in question had gone through the period of 15 days. [Dr. Kaplan's ABC that came in 1983, was in full use in 1966 by every such company providing the government with cost data analysis.] The cost audit system was successful and subsequently it was extended to very many commodities including medicine and petroleum that are in vogue even today.
Had not the Indian government introduced the cost audit we would have rich companies, poorer government and higher inflation. In US it is unthinkable that the government would intervene in the running of the companies. Today US is full of companies that are very rich, like Apple is said to have more money than the government, but government is running at loss. The US Senators and Congressmen do not realize that ‘Government for the people’ is no longer with them, it is with a few with ‘massive private gains at public loss’. Corporate Social Responsibility in US is an illusion.