mawbpla

To Make the world a better place

Month: November, 2013

MAWBPLA! GET THE ECONOMICS RIGHT!

 

TO MAKE THE WORLD A BETTER PLACE!

Dear friends, ordinary folks East and West,

Academics and professionals usually get into a rut of ideas. Over a period of time it retards their ability to think originally. They merely continue further along the rut even when circumstances call for a radical change of thinking. 

Larry Summers, One-time US Treasury Secretary and noted Harvard economist, asserts that it is dangerous for Western economies to depend on the progress of India and China to sort out the West’s own economic problems. He is right. But when he seeks to assert that all economies are bound to crash at some point and that India and China will not be able to maintain their high growth rate for long, I think he is fundamentally wrong.

In case of both the developing and the developed countries, he is basing his arguments on financial statistics past and present. Also, probably, on future projections of financial numbers based on the current gloomy scenario. He sees only the waves, not the sea beneath.

In economics, financial numbers should only be treated as the superficial symptoms they are of economic wellbeing or illness, just as the temperature of the human body is merely a superficial indicator of many possibilities of disease. The basic body tissue of Economics is the human being, not currency value or interest rates or GDP numbers. It is high time that economists realized this. I wonder if there isn’t even a silent conspiracy among academics and the financial industry to brush this basic fact under the carpet with a wink and a nod when the occasion arises.

I myself had an extensive discussion once with a stupid economist who kept insisting that the performance of India’s economy had nothing to do with India’s social conditions….as if people are accidental, unnecessary and irrelevant adjuncts to the great drama named “Economics!” that is being played out by cosmic forces with certain select people of the world in the cast. The social maladies of India are very much the cause of India’s economic under-performance so far. Indeed India’s economic under-performance is merely the thermometer that says India has a social sickness to deal with.

I believe the present financial, and consequently Economic, crisis in the developed Western countries is an indication of deep social maladies. The degradation of the Family as a social unit that has happened in the West over the last fifty to sixty years is as bad as the casteism in India. Another possible contributor is the erosion of the dignity of Woman, in spite of all the talk of equality and empowerment. East or West, the basic issues need to be addressed.  

Summers and his colleagues can talk endlessly of growth rates and GDPs but, in spite of their intellectual abilities, there will be no meaningful debate unless they get out of their one-track thought processes.  

Let us hope and try for real change. Let us try and MAWBPLA!

Jacob J. Mappilacherry

 

MAWBPLA!

Here is to all my friends on Google+, FB, LinkedIn and Twitter,

 

Make the World a Better Place!

See http://councilpac.org

MAWBPLA!

MAKE THE WORLD A BETTER PLACE

 

Man undergoes lot of misery and hardships in life. Some of them are challenges which make life interesting. Some are misfortunes which make people suffer and cause quality of life to deteriorate. But, in the latter, many are avoidable, given man’s ingenuity and wisdom. They are brought down unnecessarily upon himself by man, mostly through his deprecation, or disregard, of his own wisdom.

The current global financial crisis and economic slump are cases in point. So are 9/11 and many acts of terrorism, as are the famines that occur even as surplus food grains rot in another place.

The world appears as a hard place to many. Life is an unbearable burden to many. If only we are to use our wisdom – our evolutionary experiences – better, the world will become a better place. Life will be one grand song of joy, albeit with its challenges and difficulties and pressures that make the singing of it all the  more enjoyable, worthwhile and fruitful.

Reach into yourselves. Touch your wisdom. Live by the guidance of your superior self.

Make the world a better place for yourself, your family, your friends, and for all the rest of mankind.

MAWBPLA!