The two subjects, ‘Climate Change’ and the decline of social responsibility are connected. Some important questions raised with reference to these areas are:
i. How do we take appropriate action to prevent billions of hectares of land that may recede in their nutritional value?
ii. How do we prevent the huge wastage of water that is already a reality?
iii. How do we prevent the waste of food and aspire to achieve more food productions?
Equally important as ‘Climate Change’ is economic change. For instance, it is projected that there will be 9 billion people on the earth reaching out towards a growth that should be inclusive. These aspirations need resources for future sustainability. Printing money and harbouring ambitions of high GDP growth cannot achieve this. Printed money cannot be thought of as a true resource. The resources provided by the earth and their proper allocation is what constitutes true resources. For instance, the newspapers of 22nd March 2010 reported that the IPL is allocating 3550 crores towards its growth. This money will be borrowed from the banks and the banks will provide this money in what they call the ‘incremental credit growth’. Can this be labeled as a productive allocation of resources? This is true of the ESOPs, which are shed on the future generations. This burden is also a result of printing money. The two culprits are asset inflation and the obsession with GDP growth.
(my guide and guru Mr. Chandrakant Sampat shared this with me and I thought that I should reiterate what he said and inturn share it with you)
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