All is flux, nothing stays still. Nothing endures but Change.
480 B.C Heraclitus The Greek Philosopher.
The description is very apt to the present status of the world economy which is in turmoil due to the fast and shocking spread of the pandemic Covid 19 disrupting the best and the worst economies alike. This pandemic has literally destroyed the health and wealth of the world and continues to remain a challenge for the human ingenuity as to how to rebuild the health of the economy and the people keeping the spirit of humanity, welfare of one and all in the entire universe. The fact that Wealth is a source of all evils and all good but how to protect the humanity from the damages of wealth particularly the less fortunate from catastrophe and extreme poverty continues to bother the best minds, is the ground reality. This is the time to unite and seriously ponder by all the right thinking intellectuals of the world from all walks of life particularly the Economists, Financiers Academicians and Administrators of the world to revisit the economic policies pursued in the past and present and, generate, innovate, and adopt new approaches factoring into the invasion of technology witnessed over a period, its merits and demerits to give a kick start to the economy and provide some sort of safety net to prevent recurrence of any calamity and save the people and the economies for a bright future. Light is there at the end of the long tunnel. Let us all join together to move forward with hope, optimism, hard work and commitment through innovative ideas using the common platform how to generate Money and wealth. Peace and prosperity anywhere and everywhere is the need of the universe and let us all unite, work and aspire for it. Use the Means and God will give the blessing.
Like, money is fungible, why not the unproductive wealth seen in different forms in different parts of the world also be made fungible through some International Institution mechanism and put them into optimum use for the welfare of the humanity at least in times of such an unheard of pandemic and crisis. Atmanirbhar adopted by India, is perhaps, one such great innovative idea to gather the best of human and natural resources and present to the whole world the potential that every country has, to survive any crisis and move forward to make the living and the life a comfortable, safe and peaceful destination for the humanity as a whole. This is the God given opportunity to sink all man made differences among the people and come and look forward to enhance the quality of life through generation of wealth, employment, production and equitable distribution of the wealth generated by introducing fool proof and sound taxation policies with utmost transparency and faceless but meaningful interactions. As a nation we have everything, but something is missing somewhere is what is to be recognised, realised and set right. This requires a platform basically designed to identify the gaps and provide a common forum to generate ideas capable of generating wealth, debate and come out with simple and workable solutions to the evasive and elusive welfare measures for the fault of a few at the cost of a vast majority. No doubt the Central Government requires revenue, various State Governments require revenue, Institutions require revenue, Industries require revenue, agriculture and other economic activities require revenue but the concentration of revenues with a few and misuse / abuse of such revenues without any value addition to the society bring in all the inevitable but definitely avoidable problems and make the life miserable for all including the very well off in the society. This is the crux of the issue in the generation of money and wealth and there is a paramount need to fix this festering issue once for all and for the benefit of the entire society. Let noble thoughts and actions come from everywhere and make the living a wonderful experience .Wealth shines when the rich are humble and kind.
Dr T V G Krishnan
