Diversified Development : Gobalize Resources to Peg the Poverty and Peak the Prosperity

I believe - I'm not a political expert, but I believe there is a broad consensus, a middle ground if you will, that Democrats and Republicans, business people and workers can agree on, to get this - the economy growing faster, getting people back to work.

Austan Goolsbee

Extremes are dangerous. It robs your wealth or from other’s. Oil is one phenomenon. Countries pinning their economy on oil suffer today on account of the sudden crash. Oil exporting countries prospering for the last few years on account of higher prices are bleeding. The vice versa for those countries which extremely depended on importing the same. Ofcourse, it’s time for them to rejoice since they can save more money and prosper. The natural balancing act..

Manufacturing achieves precision with tolerances. They train themselves to be always in the middle of the tolerance and they succeed in precision. Economies also should go towards the middle path.

Pegging the most of the earnings on one particular source is equal to be in extremes. This does not augur well in the long term since when turbulence hit, you have no ground to cover. In manufacturing, when they are hit by constraints, they have the allowance to manage and still hold on to their precision.

Diversified development is critical for every country irrespective of their natural strength. In management we use to call this de-risking. When there are multiple portfolios which can earn revenues the impact can be minimized during crisis.

Water, Food, Fuel and Energy are critical for every nation and globally we need to find formulae to ensure every country is self sustained on the same. These four should be made a global asset and it’s meant for mankind. In fact it should be available as a birth right to every living being.

The per-capita consumption of the four should be arrived at on the global population and the same should be given for access across the world. Once we move to such a thought process, there can be a global institution which identifies the potential of each country on these four and help through technology transfer to mine these in every country to maintain equilibrium.

This means, these four will be out of the GDP of the each country as per-capita consumption is pegged equally as matter of right. The economic prosperity of each country should be based on, outside these four critical requirements.

By this I believe strongly the man kind will be fully relieved of survival pressure and per-capita contribution towards prosperity will move up substantially. Globally there will be huge savings and people will be out of poverty as a whole.

There will be more time and mind space for creativity and innovation and this will be the key differentiator in terms of prosperity index among various countries.

  

Imagine a situation where, every individual in the world is entitled to per-capita Food, Water, Fuel and Energy. Suddenly there will be global peace. The whole bunch of world leaders are talking about global peace and harmony and by globalizing these four critical factors we can solve the war, terrorism and inequality in one shot.

We need to say, no country owns any natural resources. This is common to all. Every human and other living being are entitled to appropriate requirement of these resources for daily use. This will not be pegged to money power.

With this, the poverty can be wiped out and every human asset will start becoming a productive asset their by contributing towards taking the global development to newer heights through positive thought process.

Developed Economies, Developing Economies, Emerging Economies and Under Developed World are all classifications based on percapita income and national income. Once the entire world is self sustained on Water, Food, Energy and Fuel, these formulae will go for a six.

The wealth of the nation will be indexed on the strength of the Health and the ability of the country to nurture education, creativity and Innovation.

We need a global thought leader who can inspire the whole world towards the concept of globalizing the key assets and making it accessible to all equally. Such a leader can bring transformation to the whole world and make the earth a heaven.

For those who don’t believe in god, probably he will be, and for those who believe in god, he may be god sent….

Anyway at the moment, it is my wishful thinking

Merry Christmas and Advanced Wished for Prosperous New Year.

T Margabandhu

M/s Marggo India