The age of Supra nationality ?

Europe has learned it after second world war . They had the experience of how the focus on physical territory and religion of nationalism can destroy the entire continent . So they continously put an effort, to create a higher union, which goes beyond physical territories and the religion of nationalism . The efforts has shown fruits with the establishment of G8+5 and European Union ,where there is larger co-operation between Nations, both in a informal and a formal way. Somehow , Asia as a continent has lacked those experience what Europe has gone through . That is the reason that Asian continent has not experienced such broader colloboration in all levels of economy , society and politics.

There is still proxy wars going between the countries in Middle East and South East Asia . The latest example is the Suicide Bomd Burst in Indian Emabassy in Afghanisthan which killed 41 people. There is no idea, when the nations of this continent will understand and think beyond physical territories, and give more priority to the people living in this continent, and thier economic and social salvation. Until that understanding takes root in the minds of leaders of these part of the world , there is little possibility to fight against the social evils together which all of them are suffering from.

Fighting against corruption : The way to global economic salvation

Corruption is one of the major element, which has decreased the ability of the global economic systems to fight poverty. Looking at the Millenium Development Goals (MDG), one would wonder, how far, we are on fighting poverty, in regards to the target year of 2015. There we could see ,that, lot of efforts of building effecient systems ,to make things work for common people,on eardicating poverty, are drained away by corruption. The latest example was the 'Oil-for Food scam' , where top officials of large scale global institutions are found to be involved . This kind of scams, are eye-openers, how the money, which goes to eradicate poverty, gets routed to different channels , and, often the purpose of the benefit of common people are ignored.

Though the problem of corruption, is fundamental to human society, and it exsisted in different forms across, different civilisation at different point of time. The real solution, lies on building process which could stop degeneration of human values. Some says, that the present world with the extensive usage of large scale IT systems and processes is well equiped to solve it . It's true that , with the present generation of technology sophistication , the chances of malpractices are decreased . However the orgination of corruption is in human mind . It is created by excessive lust and greed . How can technology solve this fundamental defects of human nature ?

That's why fighting against corruption is more internal that external . Without a strong battle with corruption , it looks impossible to visualise the way to global economic salvation.

The Fight against global terrorism is creating it ?

"All human beings are born free and equal in dignity and rights. They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood"

- Artcle 1 in United Nations Universal Declaration of human rights (UDHR)

Is this a mere academic statement ? . How much of it, is practiced in global context ? Recently , Human Rights watch ,published a detailed documentation about how criminal prosecution has been done on some developed countries to innocent terrorist, suspect, with using minimal evidence. See the report

http://www.hrw.org/english/docs/2008/07/02/france19186.htm

The fight against global terrorism should not create the same, in any form . That is the sure way to make us defeated , in the war against global terrorism. The effect of an innocent , getting punished, by loosely defined terrorism laws is severe. Rather then decreasing the participation of civil society in terrorist outfits, it could increase it . By any means there has to be substantial legal reforms, globally ,that innocent doesn't get punished . This should be the objective of any juidicial system throughout the world.

Apologies

I use to write in a email list previously which was named as " AIL Daily Wisdom". 4 months back , I stopped writing on it due to some weird software glitches . I was trying to write a message to that mailing list today about the new blog post . However the software reacted in a worse manner , generating dozens of copies of same mails. I sincerely apologies for the problem due to the flooding of emails in some of the mailboxes of the subscriber of that mailing list. I promise not to write, again into that mailing list until the server support of my web portal sorts the problem out properly.

In the meantime, if somebody wants to access the blogs post through email they can subscribe to the feed burner . I have not find till now , any sort of glitches in the process.

Credit crisis 2008 : The worst ever financial crisis in last 60 years ?

I have been contemplating on the idea, that, what makes a great food for constructive financial thought,for some time . What can be a better time, than now, to explore, that contemplation, in new dimension, with one of the worst financial crisis within last 60 years hitting hard globally, -'The Credit crisis of 2008'.

Here is what, successful Hedge Fund manager, George Soras, says in Financial tmes, who is also the chairman of Soros Fund Management way back in January 23,2008 in The Financial Times Article .

Things has deteriorated further, from there, and it seems, that the global financial institution are in a free fall . George makes an interesting comment on the article about the general perception on market moving towards equilibrium. An alumni of London school of business , talking apart from the crowd , says , that the market generally does not move towards an equilibrium. It is the reflexive systems of collective sentiments that create the realities of the market .

Few years back , I have been writing the same ideas, though was coined very differently . On my first book named as "You can perform miracles too" - YCPT , I was referring to a principle thought which establishes that 'consciousness creates reality' . The change of consciousness can lead to change of reality . Same way market has its own consciousness , which is somehow a dependent phenomenon, on the collective sentiments ruled either by fear, or by optimism. So there is the boom-burst cycle . A collective fear creates the burst cycle . Same way , a collective optimism makes the boom cycle. It proves the fact that market consciousness is representation of the collective emotions on global scale .

The new range of technology and connectivity has given rise to new levels of scalability on market sentiments . So when there is fear , it spreads from one corner to another corner within the fall of eyelid, resulting sudden bail outs of investors . When there is a collective hope springs up , suddenly you see a huge number of funds flowing on the same markets . This kind of fluctuation is the reason , there is a need of regulation .However, it seems our financial institution have gone a long way, on making irresponsible, and complex financial instruments ,which have become somehow so hard to regulate, that the regulators , have put their hands up, and expect the institution in their own, to regulate their products, without the broader understanding of macro-economic interest .

The result is what a selfish and greedy profit seeker corporate professionals should achieve, in the cost of negligence of wider macroeconomic factors.In that situation , what better can be expected other than a credit crisis, which is shaking the fundamentals of not only financial institution but also the policies related to structural adjustment , globalisation and neo-liberal reforms ?

The Threads of thought - Global Inflation and Agricultural productivity

Few of the reasons, which are responsible for Inflation both in global and national scale, is agricultural productivity. We had couple of debates and posting in this blog ,regarding the issues of agricultural productivity. Some of things predicted at that time, is a reality now. This is indeed a test of the how the blog is performing to deliver right insights and knowledge to people.

The first post regarding agriculture productivity was in 27th February

http://joydipchakladar.blogspot.com/2008/02/outlay-or-outcome-what-is-important.html

Entitled as 'Outlay and outcome' it was a pre-Budget post which was trying to see the real condition of agricultural market

http://joydipchakladar.blogspot.com/2008/03/financial-planning-wisdom-give-man-fish.html

The real issue of not focusing in agricultural productivity came in the post of March 3rd 2007.This post was very well discussed , and there are three elaborated comment on this posting .

Issues related to the topic is further discussed when Global food crisis broke down in April 11 and April 14 this year, which has been predicted earlier while responding to the comment of Anthony Mitchell on the earlier post.

http://joydipchakladar.blogspot.com/2008/04/failing-to-plan-lead-to-rise-in-food.html

http://joydipchakladar.blogspot.com/2008/04/global-food-crisis-whats-wrong-in-our.html

Policies of neo-liberalism and globalization have to be put in a deeper scrutiny, which are the voices of the earlier post. The present inflation is an effect of the Global process as remarked by our leaders. I accept that as true. However, that cannot be the end of the discussion. If something is wrong in the global process, we have to figure out a answer. We cannot blindly accept it. We have to think creatively. Might be we should do a online brainstorming session. So, I welcome ideas from all of you.

Global Inflation – Failure of neoliberal policies and globalisation ?

Global inflation, particularly the increase in food prices, is said to be an outcome of the neoliberal policies underlying globalisation. The surge in global inflation is an outcome of various factors:

1. Rising oil prices . This is affecting the commodity pricing too.

2. Shifting away from food crops and using cereals and vegetable oils to produce bio-fuels in several countries like the US, EU and Brazil, leading to declining food production.

3.Policy neglect by national governments leading to decline in public investment in agriculture, especially in areas like irrigation, productivity enhancing technology and extension services.

4.Withdrawal of the State from procurement and distribution of agricultural commodities, dwindling food stocks held by public agencies and increasing dominance and control exercised by private players in food production and trade

5.Enhanced speculation in the commodity markets through instruments like futures and derivatives with the involvement of financial entities .

A number of Government which includes Indian Government continues to repose faith in the neoliberal policies and globalisation, which seems to be the root cause behind the global food crisis. It is true, that there has to be, a lot of creative thinking into this policies . We can’t go back from globalisation to protectionism era, where again there are more ammount of export and import barriers, promting national interest, which has recently started by certain goverments. Further,we are moving on the maturity stages of Globalisation phenomenon, and the world is more and more becoming flat . So , we have to think on creating a right balance between the protecting the primary markets like agriculture and food production and yet enabling the global trade.