Bengali intelligentsia in India, known for being clever, tended to believe they could manage the economy better than the free market. This aligns with Milton Friedman's observation that academics and intellectuals often think they can outperform the market. This desire for control extends to businessmen who seek monopolistic power. The trend seen in the 50s and 60s in India, with socialist policy intellectuals educated at renowned institutions, reflects this inclination. The insight suggests a recurring pattern, evident in the Biden administration's intervention in economic matters like chip-making, indicating an attempt to guide the economy based on perceived superior insight.

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