Of apples and oranges

Here is a gem from Sitaram Yechury. I mean, who publishes such crap? Oh, a well-known newspaper like Hindustan Times of course. I actually checked if it was published under a satire or humour column or something. But no. I had overestimated their intelligence I suppose. And did you know that our dear Mr. Yechury got his BA (Hons.) in Economics from St. Stephen’s? I find that rather hard to believe after reading the following words.

“…globalisation has given rise to the phenomenon of ‘jobless growth’. The growth of employment has always been lower than the GDP growth rate globally. Both these features put together mean that the purchasing power of the vast majority of the world’s population has been declining.”

Eh? What’s the relation? It’s like putting apples and oranges together and claiming that there is a fall in mango production this year. Ok. Ok. I think it’s time I stop taking any communist seriously. As Amit Varma so succintly puts it,

“Let’s all just stay poor then, so there’s no danger of losing the money we haven’t had a chance to earn anyway.”

Someone teach these guys basic economics please!!