Saturday, October 25, 2008

Can we save the World Economy?

The guiding light of capitalism that is not having any form of state intervention in society has proven to be flawed. The first signs of this flaw ironically became obvious around the time that societies with heavily state regulated economy were going through a revolution, (Revolutions of 1989 and end of the Cold War). We bid socialism, communism and fascism farewell and claimed that they are dysfunctional systems. Almost two decades later we find ourselves dealing with another dysfunctional system.

We have come to a full circle.

Despite all the human intelligence at our disposal and coupled with all the state of the art technology we have failed to build a sustainable, peaceful, healthy and prosper society for ourselves and for our future generation.

The calamities of the past year, reminds me of Ayn Rand's masterpiece, Atlas Shrugged. Society fails due to ever increasing influence of state in market. One may notice, that the calamity that we are experiencing are due to the complete opposite reason --lack of governance.

In a panel discussion organized by Columbia University Earth Science Institute, (, George Soros, Financier and Philanthropist, described systems imperfect he then added that human beings are imperfect as well.

In the past few months, all of us, more or less, have followed politics (more than ever, I would say) despite the fact that over the years our hope in them has diminished. (Case in point: less than 59% of Canadians voted in the past election.) We have seen governments that are inefficient, self-serving, bureaucratic --simply put-- good for nothing.

Therefore, it is in the hand of you and I; simple, ordinary, hard working citizens, to build a sustainable present and prosper future in our communities. Although, we may be imperfect, but we have witnessed enough mistakes to know right from wrong, I believe.

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