The Lenient Professor who failed the Entire Class
There is a famous story about a lenient economics professor who failed his entire class. Here is the reason:
" The class had insisted that socialism is a great phenomenon which worked, so that everyone would be economically equal. No one would be rich, no one would be poor.
The professor suggested " If you think so, we will have an experiment in this class. All grades will be averaged and everyone will receive the same grade, so no one will fail and no one will receive an A".
After the test, the grades were averaged as proposed, and everyone got a B. The students who studied hard were upset and those who studied less were happy.
As the second test arrived, those who worked hard earlier now decided to work little and those who earlier worked little decided to work even less.
As a result, the second test average was D.
As a result, the second test average was D.
Then as you can expect, by the 3rd test, no one studied. They instead started blaming and abusing others, but everyone wanted a free ride. So obviously, everyone was bound to fail.
So this is how a lenient professor failed an entire class!"
This is how, the professor explained that socialism doesn't work. The students learnt a lesson, that you can't legislate the poor into prosperity by legislating the rich out of prosperity.
People take efforts when the rewards are high, but why should they when there isn't any reward at all?"
So is socialism in India curbing its economic growth?
Yes, the same way as averaging the grades curbed the grades of the class.
Yes, the same way as averaging the grades curbed the grades of the class.
Things have changed after 1991 reforms, but still India is a socialist country. Hell, even the word 'Socialist' is still there in our Preamble. The Licence Raj still exists in India.
India needs to be completely a free market capitalist economy, as this country deserves a better class of entrepreneurs, not a huge crowd of lazy guys who hate government amenities but get excited at the idea of government job!
