Almost all economies around the world are just after recession and all the problems related to it. All most all the governments all over the world are trying to put their economy back on track, which is in trouble following the crisis in the US economy. The USA is the main country which is affected a lot at this moment of time. Obama will have to release one more package said to be around $800 Billion, could help the confidence level to improve in US and around the world.
Yesterday someone had written an article in the newspaper, saying that the economic experts are caught in to quagmire of the confusion, which way an average man on this earth should go about. Whether he should be advised to go Ghandhian way of little spendings or to advise him to go for consumerism.
As said ealier the Government interference in the Capitalist economies all over world was necessaited due to the crisis faced in world over. The present crisis is of trust. People do have money, but they neither want to invest in the market nor they want to spend on the products. This is perhaps the worst situation for the Capitalist economies to survive. They neither get money for further investments, nor they get market demand to infuse Capital into the economy and increase or even sustain the production lines for the goods.
The economies world over has taken a beating and people have started staying off the market(to buy consumables) This is perhaps is the major challange before economic experts all over the world. But one solution that has betrayed everyone here in india or there in USA or UK, and that is the innovation.
It is very simple that the people in US first ran after the Y2K and then the DOTCOM. The later got busted into the another hype, housing and construction, which busted in 2006 and for 2 years theer was nothing for the economists at the Capitalist powerhouse to begin with. And so we are at where we are now !!!
But if considered little seriously and analysed little deeply the Y2K, so created and very widely publicised in the media that everything which has a micro or any other chip inside an equipment, would faulter on the night at 12.00, on 31st December 1999, when the year would change to 2000. This made the all the software giants and other varous giants, to run after the solution, as people feared that their life could at perils of systems failure. My wife was sceptical about her mixer-grinder and it worried that what would happen to her 9 years old Godrej refrigerator. People using elevator in Empire State Building, USA, feared that, their elevators were old and were installed before decades, could ditch them suddenly as the chip inside was prgrammed till 1999 and on the D Day, it would read 2000 as "00".
Billions of dollars were poured into the software industries where almost everything was re-written on one or the other pretext. People involved spent money to secure their computers. New hardwares were introduced, people purchased it, even if they had little connection with actual Y2K proof hadwares. That led people to change for the softwares which were Y2K proof. People spent money even if they were not supposed to spend on the matter of computer.
The software firms were created, software engineers and programers became a very HOT word and profession. Employers were ready to pay them anything they wanted. The Dotcom bubble was the off-shoot of this Y2K hype. That followed the Housing hype. The world righ now needs a hype like that. But this time the people around the world must be convinced that the hype created will help and benefit them. This around the citizen all overs the world shall be more active and more watchful.
To Be continued.......
Yesterday someone had written an article in the newspaper, saying that the economic experts are caught in to quagmire of the confusion, which way an average man on this earth should go about. Whether he should be advised to go Ghandhian way of little spendings or to advise him to go for consumerism.
As said ealier the Government interference in the Capitalist economies all over world was necessaited due to the crisis faced in world over. The present crisis is of trust. People do have money, but they neither want to invest in the market nor they want to spend on the products. This is perhaps the worst situation for the Capitalist economies to survive. They neither get money for further investments, nor they get market demand to infuse Capital into the economy and increase or even sustain the production lines for the goods.
The economies world over has taken a beating and people have started staying off the market(to buy consumables) This is perhaps is the major challange before economic experts all over the world. But one solution that has betrayed everyone here in india or there in USA or UK, and that is the innovation.
It is very simple that the people in US first ran after the Y2K and then the DOTCOM. The later got busted into the another hype, housing and construction, which busted in 2006 and for 2 years theer was nothing for the economists at the Capitalist powerhouse to begin with. And so we are at where we are now !!!
But if considered little seriously and analysed little deeply the Y2K, so created and very widely publicised in the media that everything which has a micro or any other chip inside an equipment, would faulter on the night at 12.00, on 31st December 1999, when the year would change to 2000. This made the all the software giants and other varous giants, to run after the solution, as people feared that their life could at perils of systems failure. My wife was sceptical about her mixer-grinder and it worried that what would happen to her 9 years old Godrej refrigerator. People using elevator in Empire State Building, USA, feared that, their elevators were old and were installed before decades, could ditch them suddenly as the chip inside was prgrammed till 1999 and on the D Day, it would read 2000 as "00".
Billions of dollars were poured into the software industries where almost everything was re-written on one or the other pretext. People involved spent money to secure their computers. New hardwares were introduced, people purchased it, even if they had little connection with actual Y2K proof hadwares. That led people to change for the softwares which were Y2K proof. People spent money even if they were not supposed to spend on the matter of computer.
The software firms were created, software engineers and programers became a very HOT word and profession. Employers were ready to pay them anything they wanted. The Dotcom bubble was the off-shoot of this Y2K hype. That followed the Housing hype. The world righ now needs a hype like that. But this time the people around the world must be convinced that the hype created will help and benefit them. This around the citizen all overs the world shall be more active and more watchful.
To Be continued.......
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