Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Democracies are being run by dictators! - Views on News from Equitymaster
  • E-MAIL
  • A  A  A
  • Sep 9, 2011

    Democracies are being run by dictators!

    The crises and revolts in the Middle East and North African (MENA) region are testimony to the long suppressed ire of the masses against despotic dictators. But democracies, too, seem to be failing.

    A gentleman by the name of Kishore Mahbubani presents a very interesting perspective on today's political establishments. He says that Muammer Gaddafi, the autocratic ruler of Libya, thrived on endless lies. By controlling the flow of news and information, he kept making a fool of everyone. A similar script runs for Egypt and Tunisia. The fact that dictators throughout the course of history have flourished through lies is hardly surprising. But how about democracies of today, are they any better?

    The answer is disheartening and worrying. According to Mahbubani, the one thread that runs common between both dictators and democracies is 'lies'. As it turns out, political establishments in the garb of democracy are one of the biggest liars. Look at the policymakers who created the Eurozone project that is now on the verge of falling apart. The project was built on a very contradictory premise of monetary unionisation leaving fiscal independence to individual member nations. To fix this contradiction, the European politicians promised that they would punish members who breached the fiscal discipline norms. Now everyone knows that it was a big lie because no member nation has faced any punitive action for breaching the 3% budget deficit rule. Here we are today, with the euro gearing towards an eventual collapse.

    Same is the story on the other side of the Atlantic. What other dictators have done with force and brute, Ben Bernanke, the chief of the US central bank, has done with destructive monetary weapons like quantitative easing (QE). Despite all contrary evidence, no American politician is ever going to tell really how bad the US debt and economic situation is. The truth is so bitter and painful that it could very well cause the government to collapse. That's the problem with democracy. Every elected government is driven by the sole purpose of winning the next elections. And this is the reason why democracies are faltering. By resorting to lies and myopic schemes, politicians are spelling doom for people and the economy at large.

    The story back home is not very different. It has been 64 years since India's independence. In all these years, evils such as corruption, rich-poor divide, human development indicators, etc. have only worsened. We have just not been able to free ourselves from them. Yet, we proudly call ourselves a free democracy. Again a big lie, isn't it?



    Equitymaster requests your view! Post a comment on "Democracies are being run by dictators!". Click here!


    More Views on News

    How to Ride Alongside India's Best Fund Managers (The 5 Minute Wrapup)

    Jun 10, 2017

    Forty Indian investing gurus, as worthy of imitation as the legendary Peter Lynch, can help you get rich in the stock market.

    You've Heard of Timeless Books... Ever Heard of Timeless Stocks? (The 5 Minute Wrapup)

    Aug 19, 2017

    Ever heard of Lindy Effect? Find out how you can use it to pick timeless stocks.

    Why NOW Is the WORST Time for Index Investing (The 5 Minute Wrapup)

    Aug 18, 2017

    Buying the index now will hardly help make money in stocks even in ten years.

    Trump Takes a Beating (Vivek Kaul's Diary)

    Aug 18, 2017

    Donald J Trump, a wrasslin' fan, took a 'Holy Sh*t!' blow on Tuesday.

    How To Read Your Mutual Fund Account Statement Correctly (Outside View)

    Aug 17, 2017

    PersonalFN simplifies the mutual fund account statement for you.

    More Views on News

    Most Popular

    Demonetisation Barely Made Any Difference to Tax Collections(Vivek Kaul's Diary)

    Aug 7, 2017

    The data tells us quite a different story from the one the government is trying to project.

    A 'Backdoor' to Multibaggers: It's Like Investing in Asian Paints Ten Years Ago(The 5 Minute Wrapup)

    Aug 10, 2017

    Don't miss these proxy bets on growing companies or in a few years you will be looking back with regret.

    Should You Invest In Bharat-22 ETF? Know Here...(Outside View)

    Aug 8, 2017

    Bharat-22 is one of the most diverse ETFs offered so far by the Government. Know here if you should invest...

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    7 Financial Gifts For Your Sister This Raksha Bandhan(Outside View)

    Aug 7, 2017

    Raksha Bandhan signifies the brother-sister bond. Here are 7 thoughtful financial gifts for sisters...

    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms


    Aug 18, 2017 (Close)