Wild Thoughts

One of the early economists Alfred Marshall stated that-rising industrial productivity could create higher standard of living. “I say that this industrial productivity itself will destroy the quality of life, that we are living in”. That is in today’s context, It could create the lower standard of life and increase in the cases of divorce and finally unhappiness and then the chaos in the country against system. In fact, the probability of having lower standard of life increase, when we over exploit the pre-existing natural resources. This becomes more particular, when these resources propel the wellbeing of manufacturing companies together with the countries in terms of credit rating. However, the over dependency in the market forces and so called rational agent (Lehman Brothers) in the market, who might create the repackaging of credit as they have done in the recent financial crisis, then the problems become serious.
The credit rating might be inflationary credit rating and because of political cycles of credit rating by the dominant so called industrial countries. As it is evidently true, when Deven Sharma had to step down from the prestigious post of Standard & Poor, because of downgrading the US credit rating from “AAA” to “AA+”. However, triumph of Evil Politics can keep on working till the morons kept sleeping.
Though, dragon is the only challenging obstacle for US on the Earth, but the monsters of unemployment and debt crisis are coming in the form of recession very soon. In fact, US is very much into the recession says one of the most reliable recession predictor (prognostication) of recent times (last 15 years) Economic Cycle Research Institute (ICRI). The tumultuous Federal Reserve and the government broke the debt ceiling and also stepped in towards expenditure cut so that they can mitigate mounting interest on debt “almost like ponzy game” situation. Now, people have started giving the slogan- “There is Error in the system of Capitalism-install new system”. Today, the most important question is what will be the new system…………
I think we need to relook the system with new age philanthropy minus business. We really need to educate and train the lower middle class for better world without re-packing the third grade credit into further three top credits. We need to respect the resources to be used in a balanced way wherever it exist in the world, and together face the challenge posed by nature. Otherwise, once these depressions will be supported by the natural calamities then neither fiscal nor monetary is going to work……thanks to China that has reduced the speed of its Bullet train and also reduces the speed of some its project being done. Be stick to 8% growth rate, which is I say the upper bound for sustainable growth for India.