So another world is possible

A new world brim with new prosperity for all
A new world brim with new prosperity for all

When I finished reading ‘Making Globalization Work’ the sentence ‘another world is possible’ hit my mind constantly. Series of relevant thoughts proved that definitely ‘another world’ is going to be possible.

Socio-economic achievement especially in information technology so far is incredible that we need, but the achievement is power centred and is not sufficient for all. Majority of the population are still lagging behind the development process.

As the OXFAM’s New Report is already in our hand, which tells about achievement we made is the 85 richest people own the same wealth as 3.5 billion poorest. Rich people earn $50,000 per annum but poor earn just $500 per annum. International Labour Organisations says 75 million young people are unemployed. A study done by Madeline Bergner for University of Virginia says Nepal has 83,000 MW hydropower potential which hasn’t been tapped yet; Still there is lack of cooperation to utilise natural resources apparently because of mistrust between the stakeholders. There is big gap of wage earnings between CEOs and workers. Even millions of workers are struggling with zero hour contracts. Societies have been clearly divided. Divided societies are jeopardizing our future. This is reality of development.

Despite these facts, of course, now we are talking about technical innovation, Internet data security, global warming, sustainability and many more. Are these so called issues bringing foods, shelter, clothes, medicines and education for 870 million hungry people who spend their nights without fulfilling almost all basic need? Are the rich honest to take responsibility of make them poor? It is true that policies which have been taken didn’t address the needs of majorities. A poor must be given by a rich, meaning a rich country must share their wealth with poor countrrie. Is that possible? Of course! But the chances of that happening is incredibly slim.

By considering the facts 39th President of the USA Jimmy Carter in a statement says that ‘‘Globalisation, as defined by rich people like us, is a very nice thing… you are talking about the Internet, you are talking about cell phones, and you are talking about computers. This doesn’t affect two-thirds of the people of the world.” Nobel Prize laureate, Chairman of President Clinton’s Council of Economic Advisers (1993-97) and Senior Vice President and Chief Economist of the World Bank (1997-2000) Prof Joseph Stiglitz in his book Globalization and it’s Discontents says that ‘‘to abandon globalization is neither feasible nor desirable. It has been made dysfunctional due to irrelevant discontents.” In an article Paul Polman, CEO of Unilever, has said that capitalists are big threat of capitalism. Therefore, he says, ‘it is time to consider new models for capitalism that are emerging around the world – specifically, conscious, moral or inclusive capitalism’. Similarly management guru Prof. Henry Mintzberg says that this is not a failure of economists but this is failure of management. So Prof Joseph Stiglitz further claims that ‘a new world is possible’. He is worried about poor and equally worried about unexpected failure of globalization. So his concern is the strengths of the globalization should be performed in support of poor, equality and at last global economy.

Considering such data and analysis, the statement made by Jimmy Carter is more realistic and appropriate. Modern development which we are talking about doesn’t affect two-thirds of the people of the world. If there are hungry people around, a rich man cannot sleep well. Poor are seeking the way out that may go beyond the control. Therefore it is right time to review the way of development to make it truly inclusive. So a new world brim with new prosperity for all is possible.

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08/10/2014

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