Sunday, Sep 25, 2022
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Multinationals

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.
Do TNCS Rule India?
outlookindia.com
-0001-11-30T00:00:00+05:53

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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