Posts

Kickstart my … Climate Change Policy !

Kickstart my … Climate Change Policy !   Ganga Prasad G. Rao Energy, Environmental and Mineral Economist gprasadrao@hotmail.com     Introduction An important, even critical lesson in environmental economics is the anticipation of future, irreversible environmental damages and providing a resolution for them in the present. A further specific case concerns the anticipation of very low probability environmental risks but which have the potential to cause very large, unprecedented damages. Such is the case with Climate Change. The seemingly inexorable increase in global CO2 emissions, the consequent accumulation of CO2 concentration in the atmosphere, and the ‘inertia’ built in to the global warming cycle implies rising sea levels across years and decades – whether gradually, or cataclysmically, as well as irreversible changes to seasonal weather patterns that could, among a multitude of other impacts, potentially affect hundreds of millions residing by the coasts, cause th...

The Road to a Robot Economy, nay, Robot Society !

The Road to a Robot Economy, nay, Robot Society ! Ganga Prasad G. Rao gprasadrao@hotmail.com www.evernote.com/gprao Was it any wonder, mused Rob, alone at the coffee shop with a frappe and a book, ‘Capitalism and Society’, that capitalism, with its inexorable quest for profits, had across years and decades, responded to the ever-increasing labor wage tab and benefits burden on firms with an inexorable and incremental substitution of capital for labor? Back in the early days of the Industrial Revolution, the first use of tools and instruments enhanced the productivity of the otherwise uneducated labor force. Then came machines - first simple, then large and complex – followed quickly by control and automation. The blue collar work force developed an almost symbiotic relationship with the machines as output expansion, profits growth, enhancement of employment opportunities and higher wages provided Americans with reduced costs, and brought about a revolution in t...

Can’t Touch This! – A Merit-based Reservation Strategy to Social Equity

Can’t Touch This! – A Merit-based Reservation Strategy to Social Equity Ganga Prasad G. Rao gprasadrao@hotmail.com gprasadrao.blogspot.com Look around and it might seem as though the gulf between the Developing world and the Developed world is closing. But look closer and beyond the industrialization and consumerism, often the benchmark for such comparisons, and what do you find? Many, if not most third world societies, are steeped in economic and social inequity that has, due the spread of western capitalism, turned oppressive on the poor and/or historically socially suppressed. To compound it, this oppressed class, a large electoral block, has been the darling of many a political party who have sought, whether from the heart or with an axe to grind, to espouse their cause on way to the corridors of power. Predictably, the politicians thus elected enforced equity by adopting the brute force, heavy-handed means of reversing the wrong – a Quota-based reservation/entitlement system in hi...

The GP 'Macro Bowl O' Economy !

The GP ‘Macro Bowl O’ Economy ! Ganga Prasad G. Rao gprasadrao@hotmail.com The world over, it is the same humdrum, the same reaction to the economic crisis that has afflicted nations across the globe. Every economic contraction, no matter of what origin must be responded to by stimulating the economy with low interest rates and ‘stimulus funds’. Pump prime an economy with ‘policies’ that have no credibility, shore up the very banks that caused the financial crash with their ultra-short trading, even indulge in a privately enriching market crash despite an obvious conflict of interest …..and when the economy fails, put your hands up, point your finger at the ‘other guy’, and walk away with your booty in the melee of a regime change. Macro-politics, my friend, is an art to master! So, in a world of no alternatives, let’s, for a change, break all taboos – I mean, academic - and imagine the unimaginable. Let us motivate a macro-economy with an entirely different rationale. An economy that ...