A very nice lecture on the crisis that looms over the US dollar and the current practice of globalization.
Sunday, December 7, 2008
Global imbalance
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1 comment:
Thanks Anand.
Saw the lecture. I can only pity that guy though. Have to admire though how he takes out most of the negatives & systematically brainwashes the audience. :)
The fact remains that America today has acheieved what most of us other nations have always aspired for & still aspire for. It's this very fact, I feel that makes most of us jealous about the fact.
They have built a classic social security system to which it's citizens can fall back upon in case of a crisis, which essentially supports in a way the consumption mentality of the people.
Also this very consumption of America which has created tons of job oppurtunities across the world and lifted millions out of poverty.
And then again, all is not well with the Indian way of living as he seems to suggest. A highly savings oriented culture has also created an immensely risk averse society, made the common people hugely selfish about himself and his own family & the worst thing, created a society which thrives on corruption.
It amuses me how America bashing & even a little bit of India praising elicits so much applause in out country. As they say, a truly great society should rather praise other societies' greatness and introspect on it's own faults.
Lets grow first to a point when we can look upon others and advise them as America does or may be show a newer way to the world by letting others mind their own business. Either way, it doesn't look too good doing all that when we ourself are in no great position to boast abt.
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