Dr. Ravi Batra, a student of the late Indian Guru Sarkar - claims depressions are preceded by peaks in money growth, inflation and government regulation, which are simultaneous and therefore, Batra asserts, related. The triggering mechanism is the increasing concentration of wealth. This encourages speculative excess and undermines the banking system by reducing the creditworthiness of its customers, to whom the banks nevertheless blindly continue to lend. zg By J. Taylor
Global Research, September 23, 2007

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If there is any doubt concerning the Plutocratic Concentration of Wealth (and income) in the World and the United States of America you might want to contemplate the graph below: (H.H.C.)

This is a blog about human rights – including political and economic human rights such as the right to participate in government (democracy being a subset of human rights) and the right not to suffer poverty – seen from the perspective of politics, art, philosophy (hence p.a.p.), law, economics and statistic

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                                                        OR Maybe

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                                                           OR Even Maybe This

(Where the wealth of the lowest 20% is barely even visible! - & Presumably Moving to the Vanishing Point?! ) This is for the United States - But Similar Measurements for the Whole Wide World would be Even more Inequitable.)

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                          ALL OF WHICH MIGHT BE INFORMED BY:

     An Except from Lord John Maynard Keynes (below) in his 1930 "Letter to Our Grandchildren" Perhaps

hearlding a Moment in Time When the World will Awaken from its Long Nightmare of Injustice to - in the Words

of Dr. Ravi Batra - "A New Golden Age" ?!

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                 Charles Handy

The Hungry Spirit: Beyond Capitalism -

The Quest for Purpose in the Modern World

Broadway Books N.Y., 1998 (pages (53-54)

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Keynes, turning from economics to philosophy in his 1930 essay “Economic Possibilities for Our

 Grandchildren” foresaw it all:

“We are being afflicted with a new disease of which some readers may not yet have

 heard the name, but of which they will hear a great deal of in the years to come-

namely technological unemployment.  This means unemployment due to our

discovery of means of economizing the use of labor outrunning the pace at which we

 can find new uses of labor ….This means that the economic problem is not, if we look

 into the future, the permanent problem of the human race.”

Keynes goes on to say that once the economic problem is solved, mankind will be deprived of its

traditional purpose and will be faced with the real problem, which economics will have won: how to

 live wisely, agreeably and well. He doesn’t think that this will be welcomed by all.

“There is no country and no people, I think, who can look forward to the age of

abundance without dread” but ultimately When the accumulation of wealth is no longer

 of high social importance, there will be a great changes in the code of morals … we

 shall be able to assess the money motive at its true value.”  

 

Charles Handy citing the 1930 reference by Lord John Maynard Keynes projecting “Technological

 Unemployment" for the future world of his grandchildren.  That would be right about now as

technological advancement not only provides the possible means for Humanity’s collective

“Transcendence of Scarcity” but poses the problem to progressives by their commitment (along

with virtually all economic theorizing) to the “Labor Theory of Value” currently informing virtually

all National Economies on Planet Earth &  the International System as well.    HHC 

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Link immediately below to the current (July 2011) state of Dr. Batra's Economic Thinking:

 

http://www.youtube.com/watch?v=CWaie-cUYlc - "Harold Channer & Others Question Ravi Batra on Thom Hartman TV Program 07-15-11"

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