[Raj_Copi_Jin]

Sudhaama wrote:
Shall we discuss on the Historical facts.... imparting ..

.. the duly Valuable Lessons for guiding the FUTURE INDIA.? Very interesting topic. I have been trying to understand these topics but without a good knowledge of history and economics, it seems quite difficult to find such solutions. Here are some tentative comments. Recently, I have come across three books which may have some relevance:
David S. Landes: The Wealth and Poverty of Nations: Why Some Are So Rich and Others So Poor?"
Jared Diamond:" Guns, Germs, and Steel",
John Kay: "Wealth and Prosperity, Why some nations are rich but most remain poor".
The last one was published in Europe under the title "The truth about markets". The first two, which I have not read, were reviewed by Brad DeLong inhis website http://econ161.berkeley.edu/ His reviews are follwed by comments of economists and historians. Apparently, the first book (by Landes) studies the theme why India and China which were quite competetive with the west started lagging behind after 18th century. Francis Bacon seems to have said that the three important tools for the modern developments were compass, printing and gun poder all of which came from China. From the discussion in DeLong's site, there does not seem to be any concensus even among the experts.
It seems that there are a number of factors and it is not clear which were the dominating factors and a crucial factor may be as inoccuous as the existence of suitable financial institutions at a suitable time. Most seem to give importance to the Industrial Revolution for the start of this dominance, first by England and then by other European countries. My friend Bimol Chatterjee says that this earlier start for England was made possible by Newton. According to Bimol, science before Newton was deductive and after Newton it became deductive. something like Steam Engine, one of the main stimulants of Industrial revolution, would not have been possible without deductive science according to Bimol. The above sort of ideas may have some truth in them. It is not clear to me why there are no tropical countries which are dominant.
It is also not clear to me whether religion, superstition etc have any role. All countries, through out history seemed to have a fair share of these. During the rise of Protestants, lot of discussions took place in Europe ( where as such took place in China and India much earlier) whether the consequent development of independent thinking among certain groups might have some influence. What role Euclid's Elements or Magnacarta had in this development must have been studied by some scholars.
There is another book which I read recently which seems more useful for studying the current problems. In "The Prize, the epic quest for Oil, Money and Power"", Daniel Yergin studies oil's role in shaping twentieth century history. Capitalism, mixed economies of various hues, communism etc seem to hold sway in partcular regions for a while but somehow nothing seems to work for a long time. Again as my friend bimol says capitalism seems to be natural but how to control it seems to be a problem. May be, we can just study how things worked in twentieth century for some guidelines. May be some of the participants like Aravindhan may have some insights. I too would like to know what would help India and the world get ahead without too much poverty and pain.
swarup