No-Subsidy Mantra of Governance to Attain the Most Efficiently Competitive Economy

After the first version of this paper was distributed among top political leaders on September 9, 2011,
the no-subsidy mantra of governance emerging from this paper seems to have spread around the
world, especially, in USA, Europe and India.2 The Indian government has mulled the idea of public
funding of elections and to block private black money in polls.3 The US President has stressed the
necessity of no-subsidy and many Republicans have expressed agreement to remove subsidies even to
corporations.4 The European Union has talked about trading tax to recover the cost of government
guarantees (subsidies) to financial firms.5

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