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Neo-Socialist Per-Capita Economics Ganga Prasad G. Rao http://myprofile.cos.com/ The prophets of doom have spoken. And for once, the financial meltdown did turn those prophecies true. The stock markets, banks and financial institutions fell like nine pins (and with them, the thick volumes of budget and five-year plan documents) when the big daddies pulled the plug on the bourses. They knew better than to expect 50% returns year after year. ( Now is not the time to speak of the small investor who lost his house and family to the crisis by following the 'invest and hold long' strategy. Sucker!!!!!) With the threat of an economic collapse following the financial crisis still in the air, and with the upcoming global warming negotiations already casting their long shadow on the industry, the governments of the world are groping for ideas to grow their economy. Like? Keynesian Economics? Neo-classical laissez faire? Neo-Keynesian Economy? Been there done that! So what's new? Macr

Buy in to the 'Green Star'!

Buy in to the 'Green Star'! Ganga Prasad G. Rao http://myprofile.cos.com/gangar What does it take to turn the world green - I mean, without poisoning our air, water, and land with toxic residues that perpetuate across time, accumulate in the food chain, reduce sperm count and infiltrate in to mother's milk and foetuses? Food, vegetables, fruit, even opaquely-packaged drinks with preservatives/pesticides and colours that negate any nutritive value they might contain (despite the detailed risk-analysis prepared by the consultant who was compensated with a free 'day-old, returned' Mercedes by the industry!). Toilet cleaners that, going by the composition, smell and color, are likely to turn the Pacific Ocean barren of life. Or, cadmium-doped, brightly colored plastic bags that poison the land they litter (and turn it eligible to receive EPA's Superfund monies! Phew!). To answer the question, not much. A strong political will, a few economists who will not sell them

NUKE THE ......WAIT!!!! THERE IS HOPE YET!

NUKE THE ......WAIT!!!! THERE IS HOPE YET! Ganga Prasad G. Rao http://myprofile.cos.com/gangar As described by one writer, the Indo-US nuclear deal has seen a path more tortuous than the meandering of deltaic rivers. Yet, as the Bush presidency comes to a close and the UPA government totters at the precipice of inflation and mis-governance, the Indo-US nuclear deal stands out as the one hope in the monsoon of despair. Not that it has been supported within or outside the government. For once, the Left has kept its word, at least on paper. Predictably, it has backed away from the deal when it matters the most. Thankfully, that was no surprise! Manmohan Singh's government now faces the prospect of pushing the deal down the unwilling throats of the BJP and the Left by garnering support from the third-tier parties and marginalized/regional political parties and dissenting members of various political parties. So much for a national consensus on a issue that arguably ranks as one of more

Nothing 'White' About This Milk!

Nothing 'White' About This Milk! Ganga Prasad G. Rao http://myprofile.cos.com/gangar Energy prices are in the news again. That's probably the understatement of the year. Crude prices have been skyrocketing. And with it, prices of petroleum products, at least of those products not controlled by the government. As it happens, this is a particularly important caveat for industries that are 'intensive' consumers of petroleum products – especially those such as the road freight where diesel is subsidized and aviation sector where gasoline is taxed. Elsewhere, as in energy-intensive sectors characterized by government-owned or -subsidized firms competing with private firms, the net impact of government control on energy prices is not immediately apparent. After years of government-sponsored monopoly, the milk market has finally opened up. Where there was a single all too familiar government sponsored- and supported regional milk cooperative, there are now a few inter-reg

Damn Our Environmental Commons?

Damn Our Environmental Commons? Ganga Prasad G. Rao http://myprofile.cos.com/gangar English language has many phrases. 'Necessity is the mother of invention' is one all of us have heard of. But, as necessary as environmental remediation is, there is no invention, little interest and certainly no action to speak of. Many rivers in India – choking with garbage and untreated sewage - are the dying testament to this observation. One would presume cities – the hub of economic activity of modern India – are endowed with resources sufficient to maintain their environs. One presumes wrong. In developed countries, lakes and river banks are prime property, protected either by the governing authority as parks and playgrounds or taken over by private developers to build luxury villas and residential enclaves. But, in our cities and towns, the converse reigns true. Our lakes and rivers are choked with garbage of all sorts over and above the untreated or half-treated sewage. Household waste,

Jobs, Jobs, More Jobs!

Jobs, Jobs, More Jobs! Ganga Prasad G. Rao http://myprofile.cos.com/gangar No matter which part of the world you are in, you hear the same refrain from politicians – Creating and sustaining employment. That they focus on jobs almost to the exclusion of anything else is understandable. Sustained employment is the source of livelihood of the masses. And the masses can be very rude at the polls if their purse is thin or they don't have a job on voting day! But much as jobs are today the visible sign of economic prosperity, should they be the only focus of our politicians? In fact, should job-creation even be on the politician's agenda? Micro- and macro-economists see jobs as part of a larger picture in which a firm or a nation produces an (array) of outputs with several inputs of which labor is but one. The demand for labor and the change in it - which is what employment and job growth/loss measure - is itself derived from demand for products or aggregate economic activity. So, sh