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Topic : Leading Organizational Change
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Should we change our Economic Developmental Model?

Created by : Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 05 22 2011 09:06:21 +0000
Keywords : should we change our economic developmental model?
Activity:  162 views;  last activity : 05 22 2011 16:48:52 +0000
 
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Socialistic development modelpresent) Vs Free Market development model(expected)
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It is always tempting to take extreme positions because they are the positions that attract notice. But extremes are usually only useful for fixing the true position. Markets are good and bad, though there has to be a presumption that wholly free markets are bad. The issue is then the right degree of market management. The minimum we can say remains important: sustainable development will not materialize without a recognition of the importance of environmental assets, and that recognition cannot come about without the creation of markets in environmental assets where none exist. We can be reasonably sure that sustainable development also requires investment in social and human capital to expand the capacities of future generations and generations now. This makes education and institution building of paramount importance, together with technological change. Markets have a strong role to play here too. But at the end of the day, markets have their dangers too. Unless we watch carefully, they can be manipulated by the few and they can be indifferent to spillover effects. Here the answer is not outright regulation or state control, for they are inconsistent with one other vital capacity that is fundamental to sustainable development - human freedom. Managed markets have to be the key to sustainable development.
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  05 22 2011 12:43:54 +0000
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FIRST OF ALL INDIAN ECONOMY IS NEITHER A SOCIALISTIC NOR A CAPITALISTIC.IT IS A MIXED ECONOMY.THE PROBLEM WITH INDIA IS NOT ALL ABOUT HUGE POPULATION OR UNDER UTILIZATION OF PLETHORA OF RESOURCES.  IT IS ALL ABOUT DEFINING OUR PRIORITIES. UNLESS A CLEAR CUT POLICY ON PRIORITIES IS NOT DEFINED MANY GAPS WILL EMERGE AND THE QUESTION OF HIGH MASS CONSUMPTION WILL BECOME ONLY A DREAM. LIKE VICIOUS CYCLE OF POVERTY THERE ARE MANY VICIOUS CYCLE WE ARE FACING ALL MOST IN EVERY FIELD OF ACTIVITIES. WEATHER IT IS INDUSTRIES OR AGRICULTURE  TILL DATE AND EVEN AFTER 60 YEARS THE IMPORTANCE OF INTER DEPENDENCE NEITHER HAS BEEN DISCUSSED NOR TALKED BY ANY GOVT. BY JUST CLAIMING THAT AGRICULTURE IS OUR BACK BONE IS AN OLD WINE IN THE NEW BOTTLE. WHEN THE TIME OF YEARLY BUDGET GOVT IS ALWAYS CONFRONTING WEATHER TO CUT THE CLOTH ACCORDING TO THE COAT OR COAT ACCORDING TO THE CLOTH. WHAT IS THE NEED OF THE HOUR IS WELL DEFINED POLICIES IN EACH AND EVERY SPHERE OF ACTIVITIES AND TAKING THE PRESENT ECONOMIC SCENARIO I FOR ONE STRONGLY RECOMMEND A BALANCED ECONOMIC THEORY WOULD B THE BEST OPTION
By sudhakar , BUSINESS CONSULTANT  | 05 22 2011 16:48:52 +0000
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Should we change our Economic Developmental Model ? Every nation can be administered efficiently only if we consider the whole nation as an organization. Organizational development is developing the 1) Internal environment of the organization 2) the external environment of the organization, and their cohesion 3) leadership considerations. It is found that so many start-up companies are coming to India from developed nations. So their methods are based on ‘Free Market developmental processes’. So is it not for our own organizational development and improving speed of development to change o?ur developmental process from ‘socialistic development’ to ‘free market development’?
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 05 22 2011 09:06:21 +0000
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Mr. Murlidharan, you said it very well, though I feel there is shadows of 'conformity bias' where by recent events in US has a prejudicial effect on ones immediate thinking on free market.

The point that need be understood is what I was trying to say another Indian on Linkedin, that American achieved Aggregate full employment equilibrium in the 60's or so with examples like 7 choices available for a job seeker then all achieved through free market developmental process in a short span.

Another point that need be understood also is, litereture on post equilibrium state of the economy is not available that nobody tried to perceive such a state long time back like concurent or pre development literature like Adam Smith's and Keyns.

So what happened in US is not the normal type of consequence rather an attempt to administer into a 'post equilibrium state of the economy' after careful study. Careful study I mean literature came our from Academia regarding risks where it was found that an Insurer a hughe one for that who can insure any amount of risk without rupture will let any entity in market or otherwise take risk and it will be almost riskles as long as there is something like a failsafe insurer. Their studies showed such entities existed in US like AIG, and for some reason they failed which was beyond the control or expectations of the decision makers who affirmed such a new market move into a post equilibrium state of an economy whose behavior could not be fathomed ex ante.

So I feel one should not attribute what happened in US as something ailing to markets or free market thinking and such thinking can only jeopardise or slow down progress which will be counter productive to the existence of Nation states where needs of the citizen to be mitigated without delay is the objective rather prolonging it to even rupture for many without any hope or recoveryl Thanks.
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 05 22 2011 13:42:42 +0000
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I happened to have been placed in the wrong voting category for not choosing my personal choice first in the category of choice. So excuse being mis represented about my opinion.
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 05 22 2011 09:10:55 +0000
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