Spiritual Revolution —role of India, Bharat

The 2014 Indian General Election’s unprecedented and unexpected (even by BJP and allies) marks only the beginning of `India,Bharat, Hindustan’ as world leader. This spiritual revolution (the election process)  in India (where people have risen above caste,creed and religion in this election and wanted only development, progress and peace) is also the beginning of giving the world, a practical solution to the process of WORLD PEACE. Please read the following:

spiritual revolution part1

spiritual revolution part2

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What India needs in 21st Century


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Blaming the Economists—-a credibility crisis

Frank Riedel ,the director of the Center for Mathematical Economics in Bielefeld, wrote in his latest book titled `Blaming the Economists’ , “Current economic models were failing reality, The message of his clear-cut analysis of the crisis is that economic predictions lack any scientific foundations.

The  German economist and mutual fund manager Max Otte in his book “The Crash is Coming” – published in 2006 – he predicted the outbreak of the global financial crisis.

However, I have been telling the world  for the last 21 years that the turning point for global economics began in 1985 with a shift in Energy Economics—- From High Energy Economics to a Low Energy Economics. After the US Stock market biggest crash in 1987, top US economists in late 1980s did say that the economy was not following normal economic principles.  

In this blog, I have uploaded several of my articles presented at various fora  explaining this phenomenon. I hope, one day the world economists will understand and accept how the scientists are helping in shaping this world towards a peaceful place to live in.

Please refer:

  1. 1.      http://www.dw.de/reading-the-crystal-ball-economics-faces-credibility-crisis/a-17203380

Deutsche Welle


Reading the crystal ball: Economics faces credibility crisis

Current economic forecasts expect the German economy to grow at 1.8 percent next year. It’s an estimate some economists say is complete nonsense, one based on outdated models out of touch with the real world.

Ever since the outbreak of the global economic and financial crisis in 2008, economists around the world have been facing the stern question of why they haven’t been able to warn politicians and the public alike of the doom unfolding.

In the absence of any satisfactory answer, some economists such as Frank Riedel have begun to question the model on which economics bases its assumptions and predictions.

Current economic models were failing reality, the director of the Center for Mathematical Economics in Bielefeld, wrote in his latest book titled “Blaming the Economists.” The message of his clear-cut analysis of the crisis is that economic predictions lack any scientific foundations.

Using Germany as an example, Riedel told DW that it was impossible to take the individual behavior of all of the country’s about 40 million households and 2 million businesses into account when making predictions about the future. Therefore economists would resort to a representative model household and a model business for the undertaking. Using this as a vehicle, he said, was perhaps sufficient to take a philosophical look at economics, but completely inappropriate to calculate, for example, future economic growth.

The myth of ‘homo economicus’

At the centre of current economic models was the assumption that the decisions of all economic players were based on rational behavior, Riedel said. If humans were acting like “homo economicus” – as this type of ideal human being is denoted in economic science – stock markets would never crash, he added.

Economist Frank Riedel believes standard economic models are substantially flawed.

Moreover, financial markets were generally ignored in most mathematical and statistical equations on grounds that economists didn’t consider them important for the real economy.

“If models ignore financial markets, they are unable to predict a financial crisis, which, in turn, will have an unpredictable effect on economic growth,” Riedel told DW.

Current economic developments were a striking example of how uncertainty about the banking sector and a lack of trust massively affected the flow of credit and investment, and subsequently growth in the labor and goods markets.

Figures don’t count

The Professor of Economics also said he considered economic growth figures that give a number behind the decimal point as completely meaningless.

“Even the figure in front of the decimal point isn’t worth much,” he said, adding that most economic forecasts often provide only a range of probability into which growth would fall.

“German economic growth next year is forecast to come in between 0.6 percent and 3 percent, which is an estimate that isn’t exactly helpful,” he said.

Speaking in a similar vein is German economist and mutual fund manager Max Otte. In his book “The Crash is Coming” – published in 2006 – he predicted the outbreak of the global financial crisis.

Economics must respect human behavior, social interaction, imbalances and political power, says Otte

Since World War II, the dogma of mathematics and a scholastic approach had gained supremacy in economics, he told DW.

“This will only change if economists pay more attention to sociological aspects and adopt a more holistic approach to society,” Otte said.

However, this school of thought, which was known as political economics, was largely ignored, showing that the entire scientific branch was heading down the wrong way.

“Economists still presume that the market will correct everything. But there is not a single market, there are many markets that work differently,” he said and added that modern-day economists had yet to pay respect to this, if they were to re-establish credibility in them.

2. http://www.ritholtz.com/blog/2013/08/blame-the-economists/

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Is the world looking towards a politico-economic-religious solution for financial crisis?

In April 2013, the global economists said  that they had no  idea how to rescue the global economy and last week the Vatican  Pope Francis in his first major speech called for an urgent  world financial reform and  condemned a heartless “dictatorship of the economy” and saying the economic crisis had made life worse for millions in rich and poor countries.
And just two days after  Pope Francis  address to the  ambassadors on global  economy, German Chancellor Angela Merkel met with him to discuss financial crises worldwide wherein she emphasized the need for tightening financial regulation.

So do you think now the world has to watch how the politico-economic and religious combination would work to solve the crisis?!!!!!!!!!?
But my stand on the rootcause of the crisis remains the same—`the calcium bomb that broke the world economy’—in 1984-85.

Please refer to:

1. May 16, 2013 http://uk.reuters.com/article/2013/05/16/uk-pope-economy-idUKBRE94F0J720130516
Pope rails against “dictatorship of the economy”, urges reform

2.May 20, 2013 http://www.firstpost.com/world/church-must-help-the-poorest-not-dissect-theology-pope-says-796401.html
Church must help the poorest, not dissect theology, pope says
The world was going through not just an economic crisis but a crisis of values

3.  May 1992  an open letter  to the world leaders by Lalitha vaidyanathan Calcium_bomb[1][1]

4. March 2012 Onemore open letter to world leaders by Lalitha vaidyanathan THE_SPIRITUAL_BASIS_OF_CAPITALIS1[1]

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No idea how to rescue the global economy—say the global economists

The following stories seemed to show clearly that the world leaders are still not reached a solution to solve the global economic crisis as they are not looking at the rootcause. According to me the crisis began in 1984-85 and not in 2008 as it is made out.

I give due credit to BBC and Wharton School for these wonderful articles. Lalitha Vaidyanathan

1.  April 21,2013—–“Like a cat stuck up a tree, economists say they have no idea how to rescue the global economy”. Nobel Prize winner, Joseph Stiglitz: “There is no good economic theory that explains why the cat is still up the tree” —- see the link http://www.bbc.co.uk/news/business-22223249

2. April 16,2013—–  ” As delegates from the World Bank and International Monetary Fund prepare for their Spring meetings, concerns remain about the global economic outlook” see the link  http://www.bbc.co.uk/news/business-22164262

3. April 10, 2013— “CDOs Are Back: Will They Lead to Another Financial Crisis?” —–
Published : in Knowledge@Wharton

4. February 13, 2013—“A Bold New Direction for Japan’s Economy” —Published : in Knowledge@Wharton

5. July 18, 2012  “The LIBOR Mess: How Did It Happen — and What Lies Ahead?”—
Published : in Knowledge@Wharton

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Peace,Towards World Peace and World Peace (27th December 2012)

This is an open letter written to all fellow citizens and world leaders on 27th December 2012 following several incidents including gang rape of a 23 year medical student in Delhi, a CRPF jawan killing his own colleagues and a young man killing almost 28 people including large number of children in an US school—-  which reflect the society’s current status!!!!!    World peace

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Towards World Peace

This book `Towards World Peace’ was compiled in 1996 and was presented to some eminent world leaders who attended the `World Peace Conference’ in Pune and Alandi, Maharashtra, India in the same year. Later hundreds of copies were circulated to many leaders from various walks of life from different countries. Please Refer: towards world peace

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