A Finance-Based, GO-Alternative to Resolution of Nominal SESH Externalities
A Finance-Based, GO-Alternative to Resolution of Nominal SESH Externalities GangaPrasad Rao gprasadrao@hotmail.com It's in the papers - the Chennai edition of The Hindu, that is. Cooum river, a flood channel in the incessant ‘winter rains’, but otherwise an open conduit for untreated sewage that drains through garbage dumps on its banks, is back in news…. Surprise, surprise, for the same reason again! Flowing through the unorganized suburbs that provide refuge to the working class employed in cities, and which host the low-value added, downstream ancillary industries, the river has largely lost its ecological and social significance, and serves as a local environmental sink - a garbage channel that is more useful to the economy in its role of channeling slush money to nominal politicians and abetting contractors. The Cooum is but one example of the social and environmental externalities engendered by the Nominal economic paradigm. You may wonder what factors cause such degradation