Of late, black money stashed away in foreign accounts has been the focus of politicians and the Supreme Court. It seems like a self-evident truth that black money is bad.  Here’s a counter-argument by libertarian Sauvik Chakraverti:

Our Supreme Court, the “committed judiciary” of the CONgress, has accused tax dodgers who have stashed their wealth abroad of a very grave crime – “plunder of the nation.” Complete nonsense, of course. A tax dodger cheats The State and not the nation – and, since this State cheats everyone anyway, this is really a “good thing,” for it preserves Capital for future investments. Everyone benefits from these future investments – goods are produced, jobs are created, and what not. If our The State had got hold of this money, it would have been “consumed”: NREGA, CWG, etc. Capital consumption makes everyone poorer. It is the road to de-civilisation. God bless the tax dodger.

Yet, there are forces at work that are in reality plundering the nation – and these are the forces of inflationism.

You have to be skeptical of the state — which any rational person should be, in my opinion — to see the merits of his argument. Now in an ideal world, we would recover the black money, feed all the poor and hungry, and transform into a great country.

In reality, not so much.

Worth a thought.

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