Saturday, January 10, 2009

Zero-based economic theory?

The more I hear about our economy, the more I think the system is broken and no so-called economist really knows what step to take. Very few of them, included Nobel Prize laureates saw the train wreck coming, simply because they assumed that popularly subscribed theories somehow worked, and we are now seeing their dismal performance in full light. So where do we go from here? We have a few choices; the first being to hope that our many governments try something piece-meal to address the “crisis of the month” but we know that is not going to amount to anything useful for the long term; governments are so focused on their re-election that they can’t do that. The next option - call it a “miracle” - is wait for some genius economist to come up with yet another theory that addresses dwindling planetary resources, exploding population growth and world inequalities, in providing sustainable living for us all. The best alternative, I think, is for all of us to start a collaborative work involving all good pragmatic and visionary thinkers willing to pitch-in and build a system everyone the world over can live with. Something inspired from Wikipedia, in which there are no borders and humanity becomes free of its narrow-minded and short-term oriented governments. Before you tell me if you want to be part of that group, let me know if it makes any sense…

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