There is absolutely no space for feudalism in an economic society which is actually based on freedom, he said at the 5th annual day of the Insolvency Bankruptcy Board of India IBBI.In a democracy or a free society, he said, there is no space for feudalism.Talking about resistance to reforms in a democracy, he said it comes from a vocal minority who have access to corridors of power.In any democracy, when you think about reform, there is always this tussle between two sets of stakeholders, one that is a vocal minority versus a silent majority, he said.
There is absolutely no space for feudalism in an economic society which is actually based on freedom, he said at the 5th annual day of the Insolvency Bankruptcy Board of India IBBI.In a democracy or a free society, he said, there is no space for feudalism.Talking about resistance to reforms in a democracy, he said it comes from a vocal minority who have access to corridors of power.In any democracy, when you think about reform, there is always this tussle between two sets of stakeholders, one that is a vocal minority versus a silent majority, he said.