Here is an very interesting commentary on non-money and unstructured finance side o fthe economies, specifically the contemporary economic events in the US and India. Please share your thoughts in the comments section below. by Mr. Francis Lobo Mr. Francis Leonard Lobo is a Mechanical Engineer from the University of Poona. His education has been in prestigious institutions in Poona like St. Vincents High School, Ferguson College & College of Engineering. He is also a Life Fellow of Indian Institution of Industrial Engineering & a Member of All India Management Association. He has over 50 years of industry & business experience as a planning engineer, company executive, in-company counselor, company director, mentor, consultant, trainer, & CEO. He has written several books like "Getting Things Done --- Strategies for Success"; "Strategies & Techniques for Successful Selling --- The Sales Mission" etc. 2008 We are in a MONEY CENTRIC ECONOMY --- Everything is measured or attempted to be measured & assessed in money terms. The poor & the weak, even though they have the numbers & the law on their side, are helpless against exploitation & the greed & the self-interests of the rich & the powerful. This is resulting in growing disparities between the rich & the poor. Millions are being cheated out of education & higher education & affordable health care on the plea that these should be privatized & be run like corporations on commercial lines for profit. In 2008 the economy faces the following challenges & opportunities, most of which require us to look at the non-money, unstructured finance space: - The rising value of the rupee - How to utilize the wealth generated by the in-flow of foreign capital into the share market - The globalization of the retail trade & the threats to the livelihood of millions - The energy crisis - Global warming & climate change - The uncertainties & threats posed by terrorism - The challenges to rational thinking & the emergence of the power of religious fundamentalism - The deficiencies in the present form of governance. --- The dependence on the discretionary powers of the bureaucracy. The centralization of power in the hierarchical structure be it in the family, in business or the government. The first-past-the-post system of elections, with all its aberrations, where the swing votes of even small groups can determine who is elected. The slow judicial process resulting in a growing backlog of tens of millions of cases. - The myth of an Ownership Society, where ownership of assets like houses, is based on borrowed money & these assets have to be surrendered or foreclosed if the interest & principal cannot be repaid. This is resulting in Tent People in USA similar to the slum dwellers in India, driven out of their homes & having to live in temporary structures under bridges or in open spaces - The shortage & the rising price of food as land & water required for food production are being diverted to other applications. - Overhanging all this is the possibility of an Economic Recession in USA, with its impact on the Global economy. Read more