Friday, Dec 02, 2022
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Do TNCS Rule India?

Do TNCS Rule India?

No, the myth of the foreign takeover hides the element of competition they bring in

Do TNCS Rule India? Gireesh G.V.

Why do I subscribe to Outlook? I can collect news and views on my own, perhaps through surfing the Net. The answer is obvious. Outlook is more efficient at doing this than I am. My time is spent more productively elsewhere and everyone gains from this specialisation. Why isn’t there a law that decrees that everything consumed in Delhi must be produced in Delhi? Surely, Delhi should strive for self-reliance. The answer is welfare gains from specialisation again.

Sadly, people see red the moment national boundaries—at best artificial and irrelevant for economic rationality—are brought in. Self-reliance for Delhi is stupid but self-reliance for the country is good.

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