End of Iron Curtain: Start of Free Market… Sort of…

I was 15 years old when Berlin wall dismantled and I was not very keen to follow the events. Those protests eventually ended “socialist” era to make a new way to start free market, capitalist era. But out of curiosity I asked to my dad and other elders that, so the communists going to out of our area also, no more strikes, so my friend’s dad can go back to factories which was closed for years etc…etc. None were provided a clear cut answer and unfortunately communists able to survive in our area, I would say it become stronger in 2 states. After end of iron curtain, communists started thinking about a new perspective of their philosophy, they become capitalist orientated may be lessons learned from modern China which is good for all of us.

20 years later after end of iron curtain, fall of Soviet Union, and free markets, are we well off with this system? Is this world become a better place to live? What are the advantages? Obviously this world become a flat, trade and investment flowing across nations, there is no border for goods movements, new inventions, new products discovered and the role of governments become less but private company’s role become bigger, rich people become richer and poverty rate of some countries were reduced, all are happy, smiling, everything is colorful.

If I stop this post now, definitely I’m looking only the glass half full, there are something missing.
  • Aren’t we putting all eggs into one bucket? For example, India the whole economy depends on 5 richer people, what will happen if they decide to disinvestment from India?
  • Aren’t we polluting our earth faster than before?
  • One cell company controlled almost 4% of GDP of a country. What will happen if they show 4 continues quarter’s loss and decided to lay off people?
  • Do we know how to survive without working for 1-2 years? Are we teaching our kids how to farm a land and make it useful for cultivation?
  • What will happen if the same happening happens in Detroit to all of our other cities?

But there are always some flaws with all the system, the system we have now is excellent one but as long as we all are honest and utilizing the system how it should work then no issues. Go Free Market.

Comments

rajagopal sukumar said…
Interesting post. Perhaps China's model presents an alternative to the freemarkets? China model without its alleged human rights excesses sounds like an alternative.
10:37 PM
Subba Muthurangan said…
Thanks Sukumar, Yes, with out human right violation is really important.
7:37 AM
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