Re-Defining the Global Economy

Anwar Noor Baloch
It has been said that the idea for Re-Defining the Global Economy grew out of a meeting on the financial crisis that took place on 13 November 2008, just two days before the original G-20 Summit and two weeks before the United Nations Review Conference on Financing for Development. What was the outcome of this summit and what did we learn from it?
If a person doesn’t have a shelter he can sit and sleep under the tree. How long he can stay under the tree in the age of information and technology? If a person doesn’t have clothes he can cover his body with leaves. How long will he walk on the street without covering his body? If a person doesn’t have food to eat he can plead. How long will he depend on others and keep the practice of begging?
Is something not appropriate with the definition (s) of economics? Are only capitalism and socialism left for debate, discussion, and argument? How do really business owners think of economics? How do political leaders of today leading the economics? How do CEO’s of companies and banks define and practice the economy of their own countries?
After working so hard why still poor people exist? Is not the economic system appropriate? What are those economic barriers which need to be worked on?
 “I am earning 10,000 USD every month, but this amount still is not sufficient to meet my monthly expenses. I have seven children”, Bahram said. What makes this person complain? Is not he able to manage his personal finance? Is inflation percent very high? Does he really have some critical issues where he is unable to understand, economically?
I have sat with one of the divisional heads of the company who has said, that: “The Company should consider increasing my salary as my expenses are very high and I can’t afford it”. “How much do you earn?” I asked. “I earn around 12,000 USD”, he replied sadly. Is not this person is greedy who just completed a couple of years with the company? On top of that, he has only two children. Where does his expense go? What does he eat and wear? Where does he take his kids for fun?
Under these circumstances where does the term “Economics” stand? Where does economic stand in theory and in practice? In my living area wherein one family 80% of the family members having a job and in another family even a single person doesn’t have a job. Where is the problem here? How deeply and seriously economists practically solve such economic issues? Do economists and politicians in a different race and objective? Is not that their primary duty to make the nation satisfied economically? Haven’t ever they thought that, the poor economy is the devil of any crime?
DisclaimerViews expressed in this article are those of the author and Balochistan Voices not necessarily agrees with them.
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