This is what we found interesting from the current issue of the “The Economist” (June 30th – 14th July 2012).
1. I admit that I have learned a lot with my association of more than 20 years with Economist. I wish to know from this newspaper as why it is still predominated with articles which deal with economic concepts of 20th century. Many concepts appearing in the newspaper are static. Like Darwin’s words, “Nature continuously targets waste and is a miserly accountant pinching pennies and punishing smallest extravagance.” It is time when the contents in the newspaper should promote new economic concepts.
2. With this view in mind, l refer to two articles (1) That has been reported in June 30th (P.77 The real wealth of nations) It describes the views of experts and many economic institutions on subjects of real wealth of nations. (2) On 14th July issue carries a topic “Comeback kid” (page 9). It describes the ways by which to revive US economy.
May I therefore request the views of the newspaper on the following concepts.
a. Water consumption in present century has gone up by 73000 times compared to the previous century.
b. Food requirement in the next 40 years are estimated at what mankind has consumed in last 1000 years.
c. Ewaste that is loaded on global economy is estimated at 60 million tonnes and still growing. This will deplete water and also harm land fertility.
d. Human population is now 7.5b and is likely to reach 9.5b by 2040. People have now more expectations like that of the US of one house and 2 cars per family. This will need 5 times the real resources from Mother Earth.
3. What is aforesaid and in the context of Ernst Myer's book “What evolution is”, He writes that mankind is capable of imagining how the future will evolve and therefore will move toward the required change.
4. Global economy is trying to power itself through greed, growth and consumption through financial instruments like QE2 and twists. Approximately $800tr of debts are floating around the world economy. Power to manage economies are with the central bankers, and as Ron Paul puts it, “Our central bankers are intellectually bankrupt”.
I will appreciate the views of this newspaper in response to what I have stated above.
Your feedback is welcomed at nitisp@gmail.com and sampat@capitalideasonline.com
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