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Monday, October 25, 2010

Empathetic Economics?

Apropos to C K Prahalad for writing,"Value at the Bottom of the Pyramid".So too Amartya Sen for getting the Nobel Prize on economic value chain for the poor.Of all the funny acronyms used by us in India the most contradictory is "BPL-Below Poverty Line".At last count unofficially 32% of the Indian population of 1 billion was BPL!And thats not counting Nepal,Pakistan,Burma...

The global economy has become a paradigm in itself and its got beyond regulations.In the 1970s when the CIA and KGB were facing off in such places at Angola,Zambia,Congo,Mozambique etc buyng of puppet dictators and the US corporates buying them off for their mineral wealth I suppose  no one wondered on how one day it would shape the world geo-politic.

Gone is the "Cold War","Iron Curtain","USSR" but the behemoth system thats replaced it is all the more frightening due to its faceless,invisible quality.How do you fight currency swaps?junk bonds?rogue traders?

Getting Main Street to live with Wall Street aint so easy Mr Obama!