Shorthand Dictation 80 Words per minute “ The economics of freedom” , Test 5 Minutes with 5 Minutes Audio Dictation, Shorthand Outline and Text Matter. Test 7

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I have dealt with, what is called, the economics of freedom. Now, take four instance, the Communist world. There they /  make up for the loneliness and insecurity with their collective working and wages according to work. Then the spy system /  and mutual watchfulness is there.  The sense of insecurity, therefore, exists there. A man would not be allowed to live unless /  he is willing to work hard. This is an essential condition of any economic development.  The individual, perforce, shall have /  to work. In India this condition does not exist.

                What have we taken to ?   We have taken to democratic planning. (100) The first essential for success in a democratic planning is a great leadership. Nowhere in the world can democratic planning / succeed unless the leadership not only commands the allegiance of the people but also has a coercive force to make /  the people work hard. Whatever be the resources or the machinery unless the people are made to work hard, better /  and more intelligently, it is impossible for any plan to succeed. A plan cannot succeed on paper.  A plan cannot /  succeed simply by making commissions produce fine reports. A plan succeeds in the field, in the factory. The honourable Prime (2000 Minister has been pleased to say that the expectation of age has increase from 24 years to 47.5 years. I / would have very much liked him to say as to what is the capacity of work that has increased. Where / does the individual labored stand today in comparison to where he stood in 1951?  Has his capacity to work increased?  Has his intelligence increased?  Has his produce been more and better?  The simple fundamental question today is:  Is the labourer / willing to work harder and better tomorrow than he did yesterday? If he is not, your plan. Cannot succeed. (300) If he is, the Plan succeeds.

                The second question with regard to planned economy is the question to bring about / savings. In an independent economy people make a lot of profits  and they cannot consume those profits; so they / save for further investment. In a planned economy private entrepreneurs cannot make much profits. Therefore, investment has to be secured / by taxation. Again, the willingness of the people comes in. How are the people to be taxed? Pollution increases / by over 2.5 per cent and this is not a good sign. In order to keep the same standard of (400) living, five times the percentage