Writer seeking metaphysical fulfillment by publishing meditations and ruminations about the world.
I am a Techie turned Business Analyst who found his true calling as a writer this journey spanning 12 years has been incredibly rewarding.
Why are Real Wages Stagnating and Stock Markets Booming?
The news is full of how the Sensex, S&P, Dow Jones Index, and the Nikkei Index zooming to ever greater heights and breaking "records" every day. At the same time, the "real" economy is stagnating and the reports of farmer distress, worker angst, and the sufferings of the man/woman on the street are all too "visible", even if mainstream media chooses to gloss over the latter and celebrate the former.
The World is Experiencing a Bad Case of Post Pandemic Blues
It would be an understatement to say that the Covid 19 Pandemic disrupted our world in ways that would have been unimaginable even a couple of years ago. What started as a local outbreak in Wuhan, China, morphed into a highly virulent and hugely dislocating Pandemic, thanks to our interconnected world. In a way, Covid 19 was globalization’s curse on the entire world, just like The Great Recession of 2008, on the Global Financial System. Hence, it is unsurprising that nations worldwide closed their borders, banned international travel, and quarantined even the trickle of travelers who were either evacuated or permitted under emergency conditions. Moreover, given that our globalized world contributed to the spread of the virus and the many variants, countries were quick to turn inward, much like India that adopted an Atmanirbhar Policy or a Nation First economic approach.
The Looming Winter of Discontent and Why A Crisis By Christmas is Possible
The world is hurtling towards a “crisis by Christmas”! Right from the Financial Fights over the Debt Ceiling in the United States and the Looming “implosion” of the Chinese Economy, to the burgeoning Global Energy Shock, and the all present threat of shortages in the UK and of gas in Europe, there are no dearth of “triggers” that can have a cascading effect on the world. Indeed, with such a Perfect Storm of converging crises, we can expect some sort of catalyzing event around the End of the Year, from which only a Divine Intervention can save us.
The Right's Denial Of Reality is Alarming and Catastrophic
Are we living in a world where rationality and logic hold sway or are we existing in the midst of Voodoo and Make Believe? If we were to go by what the Right Wingers worldwide are saying and acting, it looks like they are promoting an alternate universe where Fantasy and Magic are the defining characteristics. From Trump’s “stolen election” narrative to Florida and Texas’s “anti mask” and “anti science” stances, it is clear that Republicans, much like their counterparts elsewhere want us to believe in “denying reality” and instead, subscribe to their warped version of truth.
India Desperately Needs a Basic Income Scheme If It has to Emerge from the Pandemic
The Covid 19 Pandemic has wrought havoc worldwide in terms of the human, economic, political, and social costs as Millions of people around the world lost their lives and livelihoods. Not only was the human toll higher than any previous such epidemic or even the Two World Wars, the economic and the financial burden imposed by the Pandemic has well and truly devastated the already vulnerable and further marginalized the precarious. Indeed, the Once in a Century Event has disrupted our lives to the extent that even partial recovery seems daunting in the immediate future.
Why India's Burgeoning Gig Economy Needs to be Formalized
With more than 40% of the total workforce engaged in part time or gig work, it is high time governments worldwide took steps to mainstream them and their occupation. This can take the form of allowing Labor Unions for Gig Workers, providing them with healthcare and social security benefits, and fixing minimum wages that are legally mandated. In addition, developing countries can take additional steps such as recognizing Gig Workers as full time occupation professionals and extending the protections that are available to workers and professionals in the Formal Economy such as No Hire and Fire at Will etc.
Already a Functioning Anarchy, India risks a Slow Descent Into Madness
India faces perhaps the biggest test since its Independence and Partition in terms of convergence of social, political, and economic crises. With its economy in the doldrums, and its healthcare infrastructure found to be pitifully and worse, disastrously incapable of handling the brutal Second Wave, and with its politicians busy holding elections and pulling down governments, there are no dearth of crises that the country faces. Indeed, the term Functioning Anarchy, that was once used by Western media to describe the country, is now back in vogue, looking at the present situation.
We need Smart Globalization with a Glocal Approach
The Covid 19 Pandemic has slowed down an already weakened globalization process. Much before the Pandemic struck, nations worldwide were turning their backs on globalism and began to pursue nationalistic and by extension, populist policies. See for instance, the rise of strongmen authoritarians like Donald Trump, Vladimir Putin, Erdogan, Bolsonaro, and Viktor Orban, who espoused Nation First rhetoric. Indeed, one of the reasons for Trump’s victory was the widespread, though largely factually incorrect, feeling that globalization has enriched the Few and left the Many impoverished.
We Are All Junkies Now!
We are all junkies now. With our never ending quest for instant gratification and the endless dopamine hits that give us transient highs and then leave us wanting for more, our world with its advanced gadgetry and technological excellence has turned us all into something akin to drug addicts in search of the kicks. It needn’t have to be this way. Technology was supposed to liberate us from the humdrum of existence and usher in an egalitarian utopia. Instead, it has enslaved us and made us willing to surrender everything from our privacy and security to our mental and emotional wellbeing at the altar of complexity and and a race to the bottom capitalist profit seeking machine.
Elites Added Layers of Complexity! Now, They are Unable to Manage It.
Complexity is killing us. Right from the laws that govern us to the institutions which enforce them and the courts who adjudicate on them, our world has become so complex that it is virtually (literally as well as figuratively) impossible to comprehend and manage the mindboggling complexity that is so endemic in our lives. What more, even those who claim to understand complexity and have a grip on how to manage it flounder when confronted with solving problems that arise from complex systems.
Why Is India Unlocking in a Hurry?
India is opening up, and how!! Right from Unlocks that open up all sectors of the economy to permitting large congregations for religious festivals, and allowing weddings and other social activities, there is nothing left untouched by what I call The Great Unlock. Indeed, it is hard to remember that the country was in the grip of a vicious and brutal Second Wave of Covid Infections just a Month ago and that the system came close to collapse.
The Indian Economy Went From Bad to Worse. It Would Take a Miracle for it to Recover.
--- --- The Indian Economy was in the doldrums even before Covid struck. A hasty and ill advised Demonetization knocked the sails of a healthy economy and put it in the hospital. An equally botched Goods and Services Tax nationwide rollout ensured that the economy went into the Intensive Care Unit. Now, with the Triple Whammy of Covid, there is no hope for the Indian Economy and it would indeed take a miracle for it to recover. Not that the headline numbers in terms of growth and other parameters of economic progress do not tell the story. Even with the "massaged" statistics, all indicators are in the red and point to a serious malaise in the structural aspects of the economy.