WB are exponents of fascism not equality

The World Bank (WB) is misguided if they think “inequality is the biggest obstacle to economic progress” [14 Oct 05, p17]. It would be nonsense to suggest India is under-performing because its women can't get jobs, when there are millions of men facing a similar blight. Look at the rule of law and government intervention in the Indian economy. There is a whole swag of subsidies to protect ‘poor farmers’ – and that is precisely the harm that results from ‘equality’ as a political ideal. In addition, the government expropriates domestic savings through control of the banking system to finance its budget. Certainly the poor will always be potential consumers, but without deregulation and export-based industries to build domestic savings sustained prosperity will prove difficult. The protection of ‘foreign’ capital investment is the first step towards prosperity for developing nations, and a precursor to the protection of indigenous people's rights, since they have little voice/knowledge (under democracy) or capital to plunder. Sadly democracy is only able to achieve an ideological shift through pragmatic ‘carrot & stick’ policies. Notwithstanding the importance of other factors such as market size, domestic savings and infrastructure, the WB policies are inclined to achieve fascism rather than individual rights (the foundation for a truly just & prosperous society). One need only look at what the World Bank’s sense of ‘equality’ (whatever that means) has done to India. The WB needs to rethink its premises.