tag:blogger.com,1999:blog-4148170961078476311.post437769075621965993..comments2024-01-03T04:36:57.198-08:00Comments on MARK MARTINEZ' BLOG: WHAT MAKES THE MAGIC OF THE MARKET WORK ...Mark A. Martinezhttp://www.blogger.com/profile/12627797237995623782noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4148170961078476311.post-85975629970174181592014-09-09T02:31:14.967-07:002014-09-09T02:31:14.967-07:00When Mahatma Gandhi ceaselessly talked about reviv...When Mahatma Gandhi ceaselessly talked about reviving the village industries and agriculture, the 'modernists' scoffed at him. Big steel plants, mega dams for electricity production, community farming with combines/harvesters...nothing but everything big with tons of capital by private investors as well as government borrowing was considered the way forward for economic progress. The thinking was, big industries will create so much of wealth that the trickle down effect would adequately take care of the poorer segments of the population. To borrow from your blog, the strings/cables connecting the reality to the magic were considered inconsequential. Today, we are desperately trying to understand "how can anyone be poor? That fellow isn't working hard enough perhaps" because we still do not seem to realize that 'trickle down' is the biggest myth of all. srinivasanhttp://musings-alittleabouteverything.blogspot.in/noreply@blogger.com