by Gorawut Numnak

A Note from the MPS Asia Regional Meeting 2011

According to Dr Parth J Shah, Chairman of Organising Committee of MPS India, “India is widely seen as an emerging global superpower – its economy has proven to be robust during the recent global downturn, the nuclear deal has given a special global status and the US has come to see it as a friend.” These trends are important. However, participants at the Mont Pelerin Society Asia Regional Meeting 2011 [1], recently held in New Delhi, seem to have reservations about India as a Global Power. Not yet, or not soon, anyway.

by Wan Saiful Wan Jan

Every time I say that capitalism is the most efficient economic system that we have, many would jump to remind me about the recent global economic crisis. Some, influenced by socialist ideas, argue that America’s economic problem is a sign of capitalism’s failure. They are wrong.

Socialists and Lefties believe that the state should intervene in the economy. They instinctively assume government officials and politicians know better than the millions of individual and independent actors in the marketplace. They think it is alright for the state to set up and run GLCs or even nationalise private corporations. Their beliefs have led to taxpayers’ money being used to bail-out certain companies. In doing so, they ignore the market’s efficiency to remove wrong-doers.