With Obama’s victory over McCain in the US, instant pundits are all saying the crisis on Wall Street and Main Street was responsible for this. The former allies of the UPA, the CPI(M), is now arguing that a slowing economy could create problems for Prime Minister Manmohan Singh in quite the same manner as it created a problem for his ‘friend’George Bush. But is it really this way?
If the collapsing economy hurt George Bush, why didn't the booming Clinton years help Al Gore? If the booming economy didn’t help save the NDA government, why should a declining economy spell doom? We have to make up our minds — does the economy matter to elections or does it not? It can’t matter on one occasion and not matter on another.
Surya Kumar, Kolkata
