EC has thrown an open challenge to people to hack its EVM's. The challaange will be open for people in ?->(Show Answer!)

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MCQ-> I think that it would be wrong to ask whether 50 years of India's Independence are an achievement or a failure. It would be better to see things as evolving. It's not an either-or question. My idea of the history of India is slightly contrary to the Indian idea.India is a country that, in the north, outside Rajasthan, was ravaged and intellectually destroyed to a large extent by the invasions that began in about AD 1000 by forces and religions that India had no means of understanding.The invasions are in all the schoolbooks. But I don't think that people understand that every invasion, every war, every campaign, was accompanied by slaughter, a slaughter always of the most talented people in the country. So these wars, apart from everything else led to a tremendous intellectual depletion of the country.I think that in the British period, and in the 50 years after the British period, there has been a kind of regrouping or recovery, a very slow revival of energy and intellect. This isn't an idea that goes with the vision of the grandeur of old India and all that sort of rubbish. That idea is a great simplification and it occurs because it is intellectually, philosophically easier for Indians to manage.What they cannot manage, and what they have not yet come to terms with, is that ravaging of all the north of India by various conquerors. That was ruined not by the act of nature, but by the hand of man. It is so painful that few Indians have begun to deal with it. It is much easier to deal with British imperialism. That is a familiar topic, in India and Britain. What is much less familiar is the ravaging of India before the British.What happened from AD 1000 onwards, really, is such a wound that it is almost impossible to face. Certain wounds are so bad that they can't be written about. You deal with that kind of pain by hiding from it. You retreat from reality. I do not think, for example, that the Incas of Peru or the native people of Mexico have ever got over their defeat by the Spaniards. In both places the head was cut off. I think the pre-British ravaging of India was as bad as that.In the place of knowledge of history, you have various fantasies about the village republic and the Old Glory. There is one big fantasy that Indians have always found solace in: about India having the capacity for absorbing its conquerors. This is not so. India was laid low by its conquerors.I feel the past 150 years have been years of every kind of growth. I see the British period and what has continued after that as one period. In that time, there has been a very slow intellectual recruitment. I think every Indian should make the pilgrimage to the site of the capital of the Vijayanagar empire, just to see what the invasion of India led to. They will see a totally destroyed town. Religious wars are like that. People who see that might understand what the centuries of slaughter and plunder meant. War isn't a game. When you lost that kind of war, your town was destroyed, the people who built the towns were destroyed. You are left with a headless population.That's where modern India starts from. The Vijayanagar capital was destroyed in 1565. It is only now that the surrounding region has begun to revive. A great chance has been given to India to start up again, and I feel it has started up again. The questions about whether 50 years of India since Independence have been a failure or an achievement are not the questions to ask. In fact, I think India is developing quite marvelously, people thought — even Mr Nehru thought — that development and new institutions in a place like Bihar, for instance, would immediately lead to beauty. But it doesn't happen like that. When a country as ravaged as India, with all its layers of cruelty, begins to extend justice to people lower down, it's a very messy business. It's not beautiful, it's extremely messy. And that's what you have now, all these small politicians with small reputations and small parties. But this is part of growth, this is part of development. You must remember that these people, and the people they represent, have never had rights before.When the oppressed have the power to assert themselves, they will behave badly. It will need a couple of generations of security, and knowledge of institutions, and the knowledge that you can trust institutions — it will take at least a couple of generations before people in that situation begin to behave well. People in India have known only tyranny. The very idea of liberty is a new idea. The rulers were tyrants. The tyrants were foreigners. And they were proud of being foreign. There's a story that anybody could run and pull a bell and the emperor would appear at his window and give justice. This is a child's idea of history — the slave's idea of the ruler's mercy. When the people at the bottom discover that they hold justice in their own hands, the earth moves a little. You have to expect these earth movements in India. It will be like this for a hundred years. But it is the only way. It's painful and messy and primitive and petty, but it’s better that it should begin. It has to begin. If we were to rule people according to what we think fit, that takes us back to the past when people had no voices. With self-awareness all else follows. People begin to make new demands on their leaders, their fellows, on themselves.They ask for more in everything. They have a higher idea of human possibilities. They are not content with what they did before or what their fathers did before. They want to move. That is marvellous. That is as it should be. I think that within every kind of disorder now in India there is a larger positive movement. But the future will be fairly chaotic. Politics will have to be at the level of the people now. People like Nehru were colonial — style politicians. They were to a large extent created and protected by the colonial order. They did not begin with the people. Politicians now have to begin with the people. They cannot be too far above the level of the people. They are very much part of the people. It is important that self-criticism does not stop. The mind has to work, the mind has to be active, there has to be an exercise of the mind. I think it's almost a definition of a living country that it looks at itself, analyses itself at all times. Only countries that have ceased to live can say it's all wonderful.The central thrust of the passage is that
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MCQ-> Analyse the following passage and provide appropriate answers for the through that follow. Soros, we must note, has never been a champion of free market capitalism. He has followed for nearly all his public life the political ideas of the late Sir Karl Popper who laid out a rather jumbled case for what he dubbed "the open society" in his The Open Society and Its Enemies (1953). Such a society is what we ordinarily call the pragmatic system in which politicians get involved in people's lives but without any heavy theoretical machinery to guide them, simply as the ad hoc parental authorities who are believed to be needed to keep us all on the straight and narrow. Popper was at one time a Marxist socialist but became disillusioned with that idea because he came to believe that systematic ideas do not work in any area of human concern. The Popperian open society Soros promotes is characterized by a very general policy of having no firm principles, not even those needed for it to have some constancy and integrity. This makes the open society a rather wobbly idea, since even what Popper himself regarded as central to all human thinking, critical rationalism, may be undermined by the openness of the open society since its main target is negative avoid dogmatic thinking, and avoid anything that even comes close to a set of unbreachable principles. No, the open society is open to anything at all, at least for experimental purposes. No holds are barred, which, if you think about it, undermines even that very idea and becomes unworkable. Accordingly, in a society Soros regards suited to human community living, the state can manipulate many aspects of human life, including, of course; the economic behavior of individuals and firms. It can control the money supply, impose wage and price controls, dabble in demand or supply-side economics, and do nearly everything a central planning board might —provided it does not settle into any one policy firmly, unbendingly. That is the gist of Soros's Popperian politics. Soros' distrusts capitalism in particular, because of the alleged inadequacy of neoclassical economics, the technical economic underpinnings of capitalist thinking offered up in many university economics departments. He, like many others outside and even inside the economics discipline, fmds the arid reductionism of this social science false to the facts, and rightly so. But the defense of capitalist free markets does not rest on this position. Neo-classical thinking depends in large part on the 18th- and 19th-century belief that human society operates according to laws, not unlike those that govern the physical universe. Most of social science embraced that faith, so economics isn't unusual in its loyalty to classical mechanics. Nor do all economists take the deterministic lawfulness of economic science literally — some understand that the laws begin to operate only once people embark upon economic pursuits. Outside their commercial ventures, people can follow different principles and priorities, even if it is undeniable that most of their endeavors have economic features. Yet, it would be foolish to construe religion or romance or even scientific inquiry as solely explicable by reference to the laws of economics. In his criticism of neo-classical economic science, then, George Soros has a point: the discipline is too dependent on Newtonian physics as the model of science. As a result, the predictions of economists who look at markets as if they were machines need to be taken with a grain of salt. Some — for example the school of Austrian economists — have made exactly that point against the neo-classical. Soros draws a mistaken inference: if one defense of the market is flawed, the market lacks defense. This is wrong. If it is true that from A we can infer B, it does not prove that B can only be inferred from A; C or Z, too, might be a reason for B.As per the paragraph, author believes that
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MCQ-> Crinoline and croquet are out. As yet, no political activists have thrown themselves in front of the royal horse on Derby Day. Even so, some historians can spot the parallels. It is a time of rapid technological change. It is a period when the dominance of the world’s superpower is coming under threat. It is an epoch when prosperity masks underlying economic strain. And, crucially, it is a time when policy-makers are confident that all is for the best in the best of all possible worlds. Welcome to the Edwardian Summer of the second age of globalisation. Spare a moment to take stock of what’s been happening in the past few months. Let’s start with the oil price, which has rocketed to more than $65 a barrel, more than double its level 18 months ago. The accepted wisdom is that we shouldn’t worry our little heads about that, because the incentives are there for business to build new production and refining capacity, which will effortlessly bring demand and supply back into balance and bring crude prices back to $25 a barrel. As Tommy Cooper used to say, ‘just like that’. Then there is the result of the French referendum on the European Constitution, seen as thick-headed luddites railing vainly against the modern world. What the French needed to realise, the argument went, was that there was no alternative to the reforms that would make the country more flexible, more competitive, more dynamic. Just the sort of reforms that allowed Gate Gourmet to sack hundreds of its staff at Heathrow after the sort of ultimatum that used to be handed out by Victorian mill owners. An alternative way of looking at the French “non” is that our neighbours translate “flexibility” as “you’re fired”. Finally, take a squint at the United States. Just like Britain a century ago, a period of unquestioned superiority is drawing to a close. China is still a long way from matching America’s wealth, but it is growing at a stupendous rate and economic strength brings geo-political clout. Already, there is evidence of a new scramble for Africa as Washington and Beijing compete for oil stocks. Moreover, beneath the surface of the US economy, all is not well. Growth looks healthy enough, but the competition from China and elsewhere has meant the world’s biggest economy now imports far more than it exports. The US is living beyond its means, but in this time of studied complacency a current account deficit worth 6 percent of gross domestic product is seen as a sign of strength, not weakness. In this new Edwardian summer, comfort is taken from the fact that dearer oil has not had the savage inflationary consequences of 1973-74, when a fourfold increase in the cost of crude brought an abrupt end to a postwar boom that had gone on uninterrupted for a quarter of a century. True, the cost of living has been affected by higher transport costs, but we are talking of inflation at b)3 per cent and not 27 per cent. Yet the idea that higher oil prices are of little consequence is fanciful. If people are paying more to fill up their cars it leaves them with less to spend on everything else, but there is a reluctance to consume less. In the 1970s unions were strong and able to negotiate large, compensatory pay deals that served to intensify inflationary pressure. In 2005, that avenue is pretty much closed off, but the abolition of all the controls on credit that existed in the 1970s means that households are invited to borrow more rather than consume less. The knock-on effects of higher oil prices are thus felt in different ways – through high levels of indebtedness, in inflated asset prices, and in balance of payments deficits.There are those who point out, rightly, that modern industrial capitalism has proved mightily resilient these past 250 years, and that a sign of the enduring strength of the system has been the way it apparently shrugged off everything – a stock market crash, 9/11, rising oil prices – that have been thrown at it in the half decade since the millennium. Even so, there are at least three reasons for concern. First, we have been here before. In terms of political economy, the first era of globalisation mirrored our own. There was a belief in unfettered capital flows, in free trade, and in the power of the market. It was a time of massive income inequality and unprecedented migration. Eventually, though, there was a backlash, manifested in a struggle between free traders and protectionists, and in rising labour militancy. Second, the world is traditionally at its most fragile at times when the global balance of power is in flux. By the end of the nineteenth century, Britain’s role as the hegemonic power was being challenged by the rise of the United States, Germany, and Japan while the Ottoman and Hapsburg empires were clearly in rapid decline. Looking ahead from 2005, it is clear that over the next two or three decades, both China and India – which together account for half the world’s population – will flex their muscles. Finally, there is the question of what rising oil prices tell us. The emergence of China and India means global demand for crude is likely to remain high at a time when experts say production is about to top out. If supply constraints start to bite, any declines in the price are likely to be short-term cyclical affairs punctuating a long upward trend.By the expression ‘Edwardian Summer’, the author refers to a period in which there is
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MCQ-> Read the passage given below and answer the questions that follow:-Brazil is a top exporter of every commodity that has seen dizzying price surges - iron ore, soybeans, sugar - producing a golden age for economic growth Foreign money-flows into Brazilian stocks and bonds climbed heavenward, up more than tenfold, from $5 billion a year in early 2007 to more than $50 billion in the twelve months through March 2011.The flood of foreign money buying up Brazilian assets has made the currency one of the most expensive in the world, and Brazil one of the most costly, overhyped economies. Almost every major emerging- market currency has strengthened against the dollar over the last decade, but the Brazilian Real is on a path alone, way above the pack, having doubled in value against the dollar.Economists have all kinds of fancy ways to measure the real value of a currency, but when a country is pricing itself this far out of the competition, you can feel it on the ground. In early 2011 the major Rio paper, 0 Globo, ran a story on prices showing that croissants are more expensive than they are in Paris, haircuts cost more than they do in London, bike rentals are more expensive than in Amsterdam, and movie tickets sell for higher prices than in Madrid. A rule of the road: if the local prices in an emerging market country feel expensive even to a visitor from a rich nation, that country is probably not a breakout nation.There is no better example of how absurd it is to lump all the big emerging markets together than the frequent pairing of Brazil and China. Those who make this comparison are referring only to the fact that they are the biggest players in their home regions, not to the way the economies actually run. Brazil is the world‘s leading exporter of many raw materials, and China is the leading importer; that makes them major trade partners - China surpassed the United States as Brazil's leading trade partner in 2009 f but it also makes them opposites in almost every important economic respect: Brazil is the un-China, with interest rates that are too high, and a currency that is too expensive. It spends too little on roads and too much on welfare, and as a result has a very un-China-like growth record.It may not be entirely fair to compare economic growth in Brazil with that of its Asian counterparts, because Brazil has a per capita income of $12,000, more than two times China's and nearly ten times India's. But even taking into account the fact that it is harder for rich nations to grow quickly, Brazil's growth has been disappointing. Since the early 19805 the Brazilian growth rate has oscillated around an average of 2.5 percent, spiking only in concert with increased prices for Brazil's key commodity exports. While China has been criticized for pursuing "growth at any cost," Brazil has sought to secure "stability at any cost." Brazil's caution stems from its history of financial crises, in which overspending produced debt, humiliating defaults, and embarrassing devaluations, culminating in a disaster that is still recent enough to be fresh in every Brazilian adult's memory: the hyperinflation that started in the early 19805 and peaked in 1994, at the vertiginous annual rate of 2,100 percent.Wages were pegged to inflation but were increased at varying intervals in different industries, 50 workers never really knew whether they were making good money or not. As soon as they were paid, they literally ran to the store with cash to buy food, and they could afford little else, causing non-essential industries to start to die. Hyperinflation finally came under control in l995, but it left a problem of regular behind. Brazil has battled inflation ever since by maintaining one of the highest interest rates in the emerging world. Those high rates have attracted a surge of foreign money, which is partly why the Brazilian Real is so expensive relative to comparable currencies.There is a growing recognition that China faces serious "imbalances" that could derail its long economic boom. Obsessed until recently with high growth, China has been pushing too hard to keep its currency too cheap (to help its export industries compete), encouraging excessively high savings and keeping interest rates rock bottom to fund heavy spending on roads and ports. China is only now beginning to consider a shift in spending priorities to create social programs that protect its people from the vicissitudes of old age and unemployment.Brazil’s economy is just as badly out of balance, though in opposite ways. While China has introduced reforms relentlessly for three decades, opening itself up to the world even at the risk of domestic instability, Brazil has pushed reforms only in the most dire circumstances, for example, privatizing state companies when the government budget is near collapse. Fearful of foreign shocks, Brazil is still one of the most closed economies in the emerging world - total imports and exports account for only 15 percent of GDP - despite its status as the world's leading exporter of sugar, orange juice, coffee, poultry, and beef.To pay for its big government, Brazil has jacked up taxes and now has a tax burden that equals 38 percent of GDP, the highest in the emerging world, and very similar to the tax burden in developed European welfare states, such as Norway and France. This heavy load of personal and corporate tax on a relatively poor country means that businesses don’t have the money to invest in new technology or training, which in turn means that industry is not getting more efficient. Between 1986 and 2008 Brazil’s productivity grew at an annual rate of :about 0.2 percent, compared to 4 percent in China. Over the same period, productivity grew in India at close to 3 percent and in South Korea and Thailand at close to 2 percent. According to the passage, the major concern facing the Brazil economy is:
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