Nov 26, 2010

Budget for 2010-2011 and entrepreneurship development

Any government aspiring for economic growth has to recognize the importance of the private sector and entrepreneurship, therefore, policies that allow for their growth. Hence, it’s notable that the budget recognizes the private sector and skilled manpower as the beacon of economic growth.

Generally, there are four elements of an entrepreneurship-friendly economy. First, it must be easy to form a business, without expensive and time-consuming bureaucratic red tape. As a corollary, abandoning a failed business should also be simple and straightforward. Added to this, a reasonably well-functioning system should exist that channelizes savings to investments, and a flexible labor market that allows entrepreneurs to attract new and skilled labor and fire the non-performing. Unskilled labor is also quite necessary for entrepreneurship to flourish.

The budget for fiscal year 2010-2011 fails to make any provisions for improving the abovementioned element. However, the decision to reduce the number of days to get tax payment by 12 days for a year is a step towards reducing bureaucratic hassles for the entrepreneurs.

The second element is secured property rights and proper enforcement of contract laws. It’s unfortunate that Nepal’s performance in property rights and enforcement of contract laws are quite poor and is deteriorating instead. The budget doesn’t address this at all which is unfortunate.

As third element, the government must discourage activities that divide up the wealth rather than increase. Activities such as criminal behaviors, “rent-seeking” behaviors, and excessive taxation should be discouraged. The government should also refrain from favoring certain industries or certain economic groups. It’s very unfortunate that the government has decided to hike taxes on progressive basis once again on personal income.

The government spending is in the most unproductive sector of the economy. The government activities are more inclined to dividing up the economic pie rather than expanding it. In this context, hiking taxes is going to be counterproductive as more and more proportion of an individual’s income is drawn to be invested in the unproductive sector rather than the entrepreneurial sector.

Finally, for a successful entrepreneurial economy, the government institutions should work towards ensuring that successful entrepreneurs and established companies continue to have incentives to innovate and grow. Eliminating cartels and too high marginal tax rates are some of the things the government can do in this regard. This year’s budget makes it unequivocally clear that those cartels or syndicates of any kind will be considered illegal and the registration of such organizations is automatically invalid. Though the provision itself sounds promising, the implementation seems very unlikely due to the powerful forces including politicians behind these organizations.

The government’s decision to provide blacktopped roads, electricity transmission lines and drinking water services to any venture providing direct employment to more than 100 Nepali nationals, and health posts with health worker to ventures employing more than 500 Nepali nationals sounds very promising, but it is very likely to be just another populist agenda.

The government has decided to take forward the Youth Self-Employment program which after much initial hue and cry has subsided into a quiet department in the Finance Ministry.

One thing that’s clear from this year’s and past budgets is that our government lacks a clear vision and understanding of entrepreneurship development. Entrepreneurship development requires a holistic approach because one positive step towards promoting entrepreneurship can easily be negated by another step that’s counterproductive to entrepreneurial environment of the country. For example, providing a tanker of diesel is of almost no use when power cuts are increasing to 14 hours a day. The government should also realize that if it’s serious about entrepreneurship development, it needs to focus on major policies rather than small group appeasing programs or populist agendas. If the government could work towards simplifying and reducing procedures for business registration and closures, making labor market flexible as per the market’s demands, ensuring property rights and enforcing contract laws, discouraging rent-seeking behaviors, eliminating cartels and syndicates and reducing the top marginal rates of taxes, entrepreneurship development could be ensured. It is also essential that the policies concerning entrepreneurship not change along with the change in governments.

It is, however, appreciable that despite all the obstacles and hurdles, the budget was unveiled to the relief of all entrepreneurs and general public alike. The budget can be considered fairly positive for entrepreneurship but has little, if any, effects on long-term development of entrepreneurship in Nepal.

-Surath Giri

(Published in The Himalayan Times of 25th November 2010)

Nov 21, 2010

Rakesh Wadhwa’s “The Deal Maker”: A review

I just finished reading Rakesh Wadhwa’s debut novel (written with Leon Louw) ‘The Deal Maker’. Well known for his free market and capitalism oriented articles in leading newspapers of Nepal, India, Sri Lanka and the US, Mr. Wadhwa has finally come up with a book that tries to sum up his political-economic views. Hence the book is more of an economic treatise than a work of fiction. Inspired by Ayn Rand’s monumental classic Atlas Shrugged, The Deal Maker follows the rise of Sudesh Kumar from an ordinary Indian boy to the prime minister of India. Sudesh too influenced by Atlas Shrugged, applies free market principles to lift India out of poverty into the world’s hub of trade and prosperity. The title “the Deal Maker” well suits the novel as it reflects the protagonist Sudesh Kumar’s deft abilities to make smart deals that benefits his people as well as his country.

Sudesh Kumar, the son of an honest policeman from a village near Delhi, aspires of becoming the prime minister and changing India after growing up. However, his life falls into disarray after his father dies in a government hospital due to hospital staff’s negligence. Sudesh, through a series of events ends up working for a multi-national company headed by Ray Upton, who is a passionate supporter of objectivism and free markets. Working for Ray Upton, Sudesh not only learns about business and investments but also a mentor who teaches him the philosophy of libertarianism that guides Sudesh’s every action thereafter. Returning to India after working in Upton Corporation for years, he embarks on the road to becoming a prime minister. Becoming the prime minister is next to impossible for an ordinary guy when added to his lack of knowledge of politics are traits like honesty, straightforward way of dealing with people and the belief in free markets which is almost heretical in Third world societies. However, Sudesh ability to influence people with his arguments and cutting smart deals help him along his journey.

Surrounding the main protagonist’s story are other various sub plots with related stories and twists which is generally asked for by a fictional work. Venashri, the daughter of India IT mogul, Inder, childhood buddy of Sudesh who later becomes a top cricketer of India, Police superintendent Nanek singh, Madhumati, the secret agent who is hell bent on eliminating criminals, Shakti, the sister of Inder who’s in love with Sudesh lead their own lives but at the same time contribute in many ways to the journey of Sudesh.

The prominent importance of this novel I find as a libertarian is its ability to express the ideas of free markets and libertarianism is a way that’s understandable even by the laymen or casual novel lovers who aren’t much familiar with political-economic discourses. I believe fiction is a wonderful and effective medium to reach out to the people with your ideas as the phenomenal success of Ayn Rand’s works in creating objectivists out of readers and the success of Robert Heinlein’s “The Moon is a Harsh Mistress” in creating libertarians shows us. We can expect “The Deal Maker” to influence people in similar direction making them aware of the real problems that the third world societies face today and the importance of free markets in creating prosperity.

Despite its success in disseminating ideas, The Deal Maker however doesn’t succeed too well as a novel. The series of events are somewhat too fictional and unrealistic even for a fictional novel about rags-to riches and the dialogues characters use while interacting with each other are too lame. Although it’s necessary for the novel to create a different world to discuss the ideas, when the world is too fictional the readers are less likely to relate the ideas in the real world. It would be sad if a reader tosses the book away after reading it thinking everything discussed exists just in a world created by Mr. Wadhwa’s mind. Besides, it would also have been better to have the name of Linux inventor right. The author could have worked harder to eliminate such minor technicalities and make the novel even better.

In spite of these, Mr. Wadhwa has done a great job of creating this novel which if nothing else, will surely help thousands of readers get different perspectives of the society they live in and the policies their governments are following. I am sure it will educate many people about free markets and their importance in creating prosperity. And hopefully make some more libertarians. Even if nothing as such were to happen, I am  still very happy that Mr. Wadhwa wrote this book, for now I have a definite book to gift or recommend when a novice book lover asks me “What is the best book about free markets or libertarianism for absolute beginners?”

Nov 18, 2010

Jack and Suzy Welch's "Winning": A very enjoyable and productive read!

I read this book a while ago. After hearing countless praises and the ubiquitous presence in every “best self-help/motivational/management books” list, I was finally able to get a hold onto it and go through it. I must say Jack and Suzy Welch’s “winning” deserves all the acclaim it has been receiving. Jack Welch, who transformed General Electrics, from a sleepy "Old Economy" company with a market capitalization of $4 billion to a dynamic new one worth nearly half a trillion dollars, has done a good job writing a book that provides the readers with the insights on how to manage and lead a company as a leader or how to progress or at least survive as an employee. My experience of reading couple of management books tells me that one of the lacking aspect of such books is their inability to relate the concepts fully with the day to day operations. However, where others books fail, winning succeeds by providing multiple examples concerning the issue being discussed and Jack’s valuable insights.

Unlike his previous book, Straight from the gut, even layman and people without corporate experience, can also relate with the contents of Winning because as the author says, he wrote the book as an answer to the countless questions he is asked during interactions. Full of management techniques, their day to day applications, advices for succeeding makes the book a joyful and productive read. Though the book covers multitudes of areas of running a company, some of the lessons I learnt and that I could relate much to my company are:

Having candor among team members in a company is a must for success. As a leader, you should try to create an environment where team members can be blunt and direct when it comes to anything related to the work and the company.

Differentiation between employees on the basis of their performance is necessary to get the best out of everyone (Top 20 percent, middle 70 percent and the bottom 10 percent). I feel this technique wouldn’t be suitable for an organization like mine where every team member is very closely knit with the other and long term commitment and involvement is highly valued, but in general I find this principle quite beneficial for any other team or organization. I agree to Jack’s implication that differentiation when mixed with candor is beneficial not just for the company but for the employees themselves.

His insights about crisis management are also quite helpful. Having a mindset that the crisis is much more severe than it looks at the beginning really helps for one to be better prepared. I also liked his advice that one should never make the boss use their political capital to save him/her. Forcing the boss to use political capital has long term adverse effects in one’s career.

One thing I noticed while reading the book is Jack’s strong faith in free enterprises. Whether it’s about hiring or firing employees, competing with other companies or dealing with the government, his ideas represent his strong support for free enterprises. Winning is one of my favorite books on management and winning itself. I would highly recommend the book to any one interested in winning!

Nov 15, 2010

अधिनायकवादी अर्थव्यवस्थामा किन आर्थिक मन्दी आउँदैन

(Leftists and authoritarians around the world are touting the global financial crisis as a byproduct of free market capitalism and increased state control of the economy as the solution. However, their claims are miles away from truth.  I have translated the article called "The Alleged Absence of Depressions under Totalitarianism"by Ludwig Von Mises as an attempt to shed lights on this issue.)

धेरै समाजवादी लेखकहरु आर्थिक संकट र व्यापारिक अवसादहरु पूँजीवादी अर्थव्यवस्थामा अन्तर्निहित अवगुणहरु हुन भनेर जोड गरिरहेका हुन्छन् । समाजवादी अर्थव्यवस्था भने यस कूरीतिबाट अछुतो रहने उनीहरुको जिकिर हुन्छ ।

तर पहिल्यै पनि स्पष्ट भैसकेको र फेरि पनि देखापर्ने एउटा कुरा के हो भने बरोबर भइराख्ने व्यापारिक घटबढ एउटा स्वतन्त्र बजारको परिधिबाट उत्पन्न हुने चीज नभएर स्वतन्त्र बजारले तय गर्नेभन्दा कम उचाइमा ब्याजदर राख्नलाई सरकारद्वारा  गरिएको हस्तक्षेपको उपज हो । यस विन्दुमा आएर अब हामीले समाजवादी योजनाको कथित स्थिरताको बारेमा मात्र छलफल गरे पुग्छ ।

Taken from Mises.org
हामीले यहाँ के बुझन जरुरी छ भने आर्थिक संकट उत्पन्न हुनुको कारण बजारको प्रजातान्त्रिक अभ्यास हो । जब उद्यमीले काममा लगाएका उत्पादनका कारकहरु प्रति उपभोक्तालाई चित्त बुझ्दैन तब उनीहरु आफ्नो  गुनासोलाई कुनै सामान खरिद गर्ने वा नगर्ने व्यवहारबाट अभिव्यक्त गर्दछन् । कृत्रिम रुपमा गिराइएको बजारको कुल ब्याजदरबाट दिग्भ्रमित भएका उद्यमीहरु सर्वसाधारणलाई संतुष्टि प्रदान गर्न चाहिने तत्कालका आवश्यकता पूरा गर्ने क्षेत्रहरुमा लगानी गर्नबाट चुक्छन् । अनि जब उधारोको विस्तार अन्त्य हुन्छ गल्तीहरु उजागर हुन्छन् । उपभोक्ताको व्यवहारले व्यापारीहरुलाई आफ्नो कि्रयाकलाप उपभोक्ताको प्राथमिक चाहनातर्फ समायोजन गराउन बाध्य तुल्याउँछ । अर्थतन्त्र उचाइँमा हुदाँ भएका गल्तीहरु सच्याउने र उपभोक्ताको इच्छाहरुतर्फ समायोजन गर्ने प्रकि्रयालाई नै आर्थिक मन्दी (अवसाद)  भनिन्छ ।

तर एउटा समाजवादी अर्थव्यवस्थामा केबल सरकारको मत मात्रले स्थान पाउँछ र जनताहरु कुनै वस्तु वा सेवाको मूल्यबारे आफ्नो  मत अभिव्यक्त गर्ने कुनै पनि माध्यमबाट विाचत हुन्छन् । एउटा तानाशाहले कति स्रोत चालु खपतलाई छुट्याउने र कति अतिरिक्त लगानीको लागि राख्ने भनेर गरेको निर्णयलाई जनताले समर्थन गर्छन कि गर्दैनन् भनेर मतलब गरिराख्नु पर्दैन । यदि तानाशाहले कम खपत गर्ने धेरै लगानी गर्ने निर्णय गर्दछ भने जनताहरु थोरै खान र जिब्रोमा ताल्चा लगाउन बाध्य हुन्छन् । कुनै पनि संकट आइपर्दैन किनकी जनताहरुसँग आफ्नो  असन्तुष्टी व्यक्त गर्ने अवसर नै हुँदैन ।

जहाँ कुनै व्यापार नै हुँदैन त्यहाँ व्यापार राम्रो हुने वा नराम्रो हुने हुँदैन । त्यहाँ भोकमरी तथा कुपोषण होला तर आर्थिक संकट हुँदैन । आर्थिक संकट जुन बजार अर्थतन्त्रको समस्या हल गर्ने एउटा प्रकिया हो । जहाँ व्यक्तिहरु रोज्नका लागि स्वतन्त्र छैनन त्यहाँ उत्पादन गतिविधि निदेर्शित गर्नेहरुको प्रकियाबिरुद्ध  आवाज उठाउन उनीहरुले पाउँदैनन् । पुँजीवादी देशहरुमा पनि जनमतले सस्तो मुद्राको नीतिलाई समर्थन गर्ने गरेको पाइन्छ । जनमानस कृत्रिम विज्ञहरुको सस्तो मुद्राले विना कुनै खर्च सबैलाई सम्रिद्ध  बनाउँछ भन्ने गलत दावीहरुले गर्दा दिग्भ्रमित भएको हुन्छ । उनीहरुले याद गर्दैनन् कि लगानीलाई त्यस हदसम्म मात्र विस्तार गर्न सकिन्छ जुन हदसम्म बचतको माध्यमबाट पूँजी जम्मा भएको हुन्छ । उनीहरु वित्तिय लहडको परी कथाले गर्दा झुकिन्छन् । तर वास्तविकतामा मानिसहरुको व्यवहारले महत्व राख्छ परी कथाले होइन। यदी मानिसहरु आफ्नो  चालु खपत कम गरेर बढी पैसा बचत गर्न तयार छैनन् भने लगानीको विस्तारका लागि चाहिने दिगो माध्यमको अभाव हुन्छ । यो माध्यम पैसा छापेर वा बैंकको खाताको कर्जा  (क्रेडिट)  ले उपलब्ध गराउन सक्दैन ।

यो साधारण घटना हो कि व्यक्तिले मतदाताको सामर्थ्यमा  गर्ने काम उसले बजारमा गर्ने व्यवहारको विपरीत हुन्छ । त्यसैले उदाहरणका लागि उसले यस्ता कार्यको लागि मत हालीराखेको हुन्छ जसले कुनै एउटा वा सबै वस्तुको मूल्य वृद्धि गरिराखेको हुन्छ जबकी एउटा उपभोक्ताको रुपमा भने ऊ यी मूल्यहरु कम भएको हेर्न चाहन्छ । यस्तो आपसमा विरोधी व्यवहारहरु अज्ञानता र गल्तीका कारण भैराखेका हुन्छन् । मानव स्वभावका कारण यस्तो भैरहन्छ । तर एउटा सामाजिक संस्था जसमा व्यक्ति न त मतदाता हो न त के्रता हो वा जहाँ मतदान र खरीद देखावटी मात्र हुन्छन् त्यहाँ यस्ता कुराहरु अनुपस्थित हुन्छन् ।

Author: Ludwig Von Mises
Translation: Surath Giri

Nov 2, 2010

सरकारको स्वरुप (Ayn Rand's Nature of government को नेपाली अनुवाद )-भाग ३

यी सबै मामलामा न्यायलाई निर्देशित गर्ने आधारभूत सिद्धान्तमाथि नजर गर्ने हो भने  यो सिद्धान्त हो -कुनै पनि व्यक्ति अर्को व्यक्तिबाट कुनै पनि मूल्य उसको सहमतिविना प्राप्त गर्न सक्दैन र एउटा व्यक्तिको अधिकारलाई एक व्यक्तिको एकतर्फी निर्णय  अविवेक या मनमानी स्वेच्छाचारिताको भरमा छोड्न  सकिदैंन । 
स्मरण रहोस् , व्यक्तिमाथि बलपूर्वक नियन्त्रण नै एकमात्र सेवा हो जुन सरकारले दिन्छ । आफैलाई सोधिहेर्नुस  बलपूर्वक नियन्त्रण गर्ने कुरामा प्रतिस्पर्धाको के अर्थ हुन्छ ।

Ayn Rand
कसैले पनि यस सिद्धान्त वा शब्दलाई विरोधाभासी भन्न सक्दैन किनकि स्पष्ट छ यसमा प्रतियोगिता र सरकारको भिन्नताको ज्ञानको अभाव छ । न नै यसलाई कुनै अमूर्त बहाव भन्न सकिन्छ किनकि यसको वास्तविकतासँग कुनै सम्बन्ध वा संपर्क  छ  न यसलाई कुनै निश्चित रुप दिन सकिन्छ । यसलाई एउटा उदाहरणले नै स्पष्ट पारिदिन्छ -मानौ श्रीमान् स्मिथ जो सरकार  ए  का उपभोक्ता हुन् लाई शंका लाग्यो कि उनीकहाँ श्रीमान् जोन्सले  जो सरकार बी का उपभोक्ता हुन् चोरी गरे । प्रहरीको समूह जब श्रीमान जोन्सको घरमा जान्छन् त उनीहरु प्रहरी समूह बी लाई ढोकामा पाउँछन् जो श्रीमान् स्मिथको शिकायतलाई वैध मान्नबाट अस्वीकार गर्छन र सरकार ए को प्रशासिनलाई मान्यता दिदैनन् -तब के   हुन्छ तपाईं आफैं अन्दाजा लगाउन सक्नुहुन्छ ।

सरकारको अवधारणाको उत्पत्तिको अत्यन्त लामो एवं जटिल इतिहास छ । सबै सभ्य समाजमा सरकारद्धारा सही तरिकाले काम गरेका केही उदाहरणहरु छन् । यो आफूले आफैंलाई सरकार र लुटेराहरुको समूहको बीचमा केही अन्तरहरुको मान्यताको परिघटनाको रुपमा व्यक्त गर्छ  सरकारलाई  "कानून एव   व्यवस्था  को रक्षकको" रुपमा सम्मान एवं नैतिक अधिकार सुनिश्चित गरियो ।

तथ्य यो हो यहा सम्म कि  अनैतिक सरकार पनि केही हद सम्म न्याय एवं व्यवस्था कायम राखिराख्न अनिवार्य सम्झन्छ  या त स्वभाव वा परम्पराको कारण या आ७३टज्ञद्धद्धण्सना अधिकारहरुको केही हदसम्म नैतिक औचित्य ठहर्याउनको लागि जस्तै फ्रान्सका सम्राटले  राजाका ईश्वरीय अधिकार को स्तुति गरेका थिए र त्यस्तै गरि सोभियत रुसका आधुनिक तानाशाहहरुले आफ्नो शासनलाई आफ्ना अधीनस्थहरुको नजरमा  उचित ठहर्याउनका लागि धन खर्च गरेका थिए।

मानव जातिको इतिहासमा सरकारको उचित कार्यप्रणालीको ज्ञान हालैको उपलब्धि हो । यो केबल दुई सय वर्ष पूरानो हो र यसको शुरुवात अमेरिकी क्रान्तिको समयबाट भयो । अमेरिकाका संस्थापकहरुले समाजको आवश्यकता र स्वरुपको पहिचान मात्र गरेनन् बरु ती साधनहरुको पनि खोजी गरे जसबाट यसलाई व्यवहारिक रुप दिन सकियोस् । एउटा स्वतन्त्र समाज अन्य कुनै मानविय उत्पादन सरह  याट्टच्छिक साधनहरुबाट वा केबल इच्छामार्फत वा असल मनसाय भएका नेताहरुबाट प्राप्त गर्न सिकंदैन । स्वतन्त्र समाज बनाउन र यसलाई स्वतन्त्र बनाइराख्नका लागि एक वैध सिद्धान्तहरुमाथि आधारित जटिल न्याय व्यवस्थाको आवश्यकता पर्छ । यस्तो व्यवस्था जो प्रेरणा  नैतिक चरित्र वा कुनै निश्चित अधिकारीको इच्छामा निर्भर नहोस् यस्तो व्यवस्था जसमा निरंकुशता फस्टाउने गरि कुनै कानूनी कमीकमजोरी नहोस् ।

अमेरिकाको नियन्त्रण एवं संतुलन व्यवस्था यस्तै एउटा उपलब्धि थियो  र यद्धपि संविधानका केही विरोधाभासले आधुनिक राजनीतिक व्यवस्थालाई फस्टनउने केही मौका दियो सरकारका अधिकारहरु सीमित एवं नियन्त्रत गर्ने साधनका रुपमा संविधानको अवधारणा विलक्षण उपलब्धि थियो ।

आज जब यस विषयलाई समाप्त गर्ने सामूहिक प्रयास हुन्छ पर्याप्त रुपमा भन्न सकिइराखिएको छैन कि संविधानले सरकारलाई सीमित गर्छ निजी व्यक्तिलाई होइन । यसले निजी व्यक्तिको आचरणहरुलाई निर्धारित गर्दैन  केबल सरकारको आचरणहरुलाई मात्र । यो सरकारी अधिकारहरुको चार्टर होइन बरु सरकारको विरुद्ध नागरिकका लागि नागरिकको संरक्षणको चार्टर हो ।

अब सरकारका आज प्रचलित विचारहरुमा नैतिक र राजनैतिक अवनतिको अधिकतम सीमा माथि विचार गरौं ।

व्यक्तिका अधिकारहरुको रक्षक हुनुको साटो सरकार  तिनको सबैभन्दा खतरनाक उल्लंघनकारी बनिरहेको छ स्वतन्त्रताको रक्षा गर्नुको साटो दासता स्थापित गरिरहेको छ  शारीरिक बल प्रयोग गर्ने वालाबाट रक्षा गर्नुको साटो सरकार आ७३टज्ञद्धद्धण्सनो मर्जीको कुनै मामलामा कुनै तरिकाले शारीरिक बल  र जोर  जबरजस्तीको प्रयोग गरिरहेको छ । मानव संबन्धहरुमा निस्पक्षताको उपकरणको रुपमा काम गर्नुको साटो सरकार अनिश्चितता  र भयको घातक शासकको रुपमा काम गरिरहेको छ । यसका लागि उसले ती अस्पष्ट कानूनहरुको प्रयोग गरिराखेको छ जसको व्याख्या अधिकारीहरुको स्वेच्छामा छोडि दिइएको छ । व्यक्तिको उच्छृंखलताले गर्दा हुने अन्यायबाट व्यक्तिको रक्षा गर्नुको साटो सरकार स्वयं पनि अन्यायपूर्ण तरिकाले अधिकार ज्ञापन गरिरहेको छ । यसप्रकारले हामी तीब्र गतिमा उच्चतम अवनति तिर पुग्दै छौं -त्यस्तो अवस्था जहाँ सरकार आ७३टज्ञद्धद्धण्सनो इच्छाले जे पनि गर्न स्वतन्त्र हुन्छ  जबकि व्यक्तिले भने जे पनि गर्नका लागि सरकारको अनुमति लिनु परोस् । यो व्यक्तिको इतिहास सबैभन्दा अन्धकारमय समय हो  त्यो अवस्था जहाँ बर्बर शक्तिको शासन हुन्छ ।

 प्राय ः यसप्रकारको टिप्पणी गरिइन्छ कि आफ्नो  भौतिक प्रगतिको बावजुद मानवजातिले त्यसको तुलनामा नैतिक प्रगति गरेका छैनन् । यसप्रकारका टिप्पणीमा मानवप्रकृतिको बारेमा केही निराशावादी निष्कर्ष निकालिन्छन् । यो साँचो हो की मानवजातिको नैतिक अवस्था लज्जाजनक स्तरमा पुगिसकेको छ । तर यदि सरकारहरुको विकराल नैतिक उलटपुलट - परोपकारी सामूहिकतावादी नैतिकताद्धारा सम्भव  बनाइएको  जस अन्तर्गत मानवजातिले आफ्नो  प्राय ः इतिहास गुजारेका छन  माथि विचार गर्ने हो भने आश्चर्य हुन्छ कि कसरी मानिसले आफ्नो  सभ्यतालाई बचाइराख्यो र आफ्नो  दिशामा कदम बढाउन जारी राख्यो ।

व्यक्ति राजनीतिक सिद्धान्तहरुको स्वरुपलाई पनि अझ स्पष्ट रुपमा हेर्न शुरु गर्छ जसलाई व्यक्तिको बौद्धिक पुनर्जागरणको संघर्षको हिस्साको रुपमा स्वीकार र समर्थन गरिनुपर्छ ।

 समाप्त  

Author: Ayn Rand
Translation: Surath Giri