India's rigid social structure limits intergenerational economic mobility and fosters acceptance of vast wealth disparities.

Thanks to decades of accumulated federal budget deficits and, more significantly, imprudent Medicare and Social Security policies, we've stolen almost $60 trillion from our children.

To be sure, India has achieved enviable success in business services, like the glistening call centers in Bangalore and elsewhere. But in the global jousting for manufacturing jobs, India does not get its share.

During my 30 years on Wall Street, taxes on 'unearned income' have bounced up and down with regularity, and I've never detected any change in the appetite for hard work and accumulating wealth on the part of myself or any of my fellow capitalists.

The market is the creator of social wealth and the wellspring of self-sustaining economic development.

Money and wealth, indeed, are the greatest enemy to the poor, as social status is measured and controlled by the same.