ESSAY ON IMPACT OF PRIVATIZATION ON ECONOMIC GROWTH

English_Master December 7, 2013 No Comments
ESSAY ON DENATIONALIZATION OR PRIVATIZATION The myth of socialist economy of nationalization has been exploded. Some of the critics of nationalization called it state capitalism. But by the end of 1990 it was realized by the people of East European countries which were the breeding ground of communism that it was a hand maid of bureaucrats, dictators and generals in the armed forces. The proletariat and the common man reaped no benefits from the system. The nationalized industry, agriculture and financial institutions, provided funds for the well placed authority in the Communist countries. They replaced the feudal lords in enjoying comforts and luxuries. The common man remained where he was. He revolted against the political system as it starved him through economic mismanagement. After 70 years he dug the grave and buried it forever in Soviet Russia where it was born. The journey of Marxist concept from the land of Lenin and Stalin to the third world democratic countries was also dangerous. In USSR and East European countries people could not form trade unions. In India, the biggest democracy of the world, it is their fundamental right. In communist countries it provided luxurious life to fifty per cent of the people in the Imperial army and the bureaucratic bosses....
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