Year 2009. The year will be remembered, of course, for the biggest recession in the World’s free trade history. It has affected nearly every corner of the globe. Even I’m affected, for we have to move to another home on account of this! Every economy has seen sharp falls in their stock markets. Many companies have filed for bankruptcy, many have already given thousands of red letters to their employees, many factories have been shut, fall in demand of automobiles and more. Yes, this indeed is the biggest recession, and governments around the world are spending huge resources on restoring the markets, US shelling out nearly a trillion dollars. And there would be one small voice, not that small though, who would be saying – “See what capitalism has done? Now they regret in going against socialism!”.
So, is that voice true? Have many countries paid the price by choosing capitalism over socialism? I think not. Actually I believe this to be a part of a cycle, a part which is called “trimming”. What do I mean is this is a part where the booming economies have deflated, that they cannot go further in success, that they would at some point have to scale back and start afresh, bring new ideas afloat, a chance given to new thinkers and shakers. That point of time is now, and we need not brace it as the end of the world. Yes, it is a hard time for most, but that is what life is all about. Our present free trade model is in similar lines to natural evolution. There be point in world’s clock where there will be a check in the growing population of species, even eradicate few species, as we don’t see dinosaurs anymore. The recession here is on the similar lines. Many companies are now no more. Few more are in the process of being exterminated. But do we have to be really worried about it?
I guess not. Yes, we would have to embrace recession as a change, something that is different from the rythm. Something that’s similar to how we came into existence. Mammals have come into existence after dinosaurs became extinct, and by how they have evolved! Now we see a wide varieties of mammals spreading across different continents, but mammals are not the only ones. Some cousins of the dinosaurs are still left, and have evolved. Some of the finest examples are the crocodiles, reptiles like snake, lizards, etc, the shark and many more.
Ok, that is the biology part of it. What I’m trying to bring into view is what will be the future after the big recession. Yes, like the dinosaurs, many companies are extinct. Some, like the crocodilians, lizards, sharks etc, are evolving to become a better venture in the years to come. And some, like the mammals, will come up, and that is what I’m excited about.
Why? That’s where India can come up. India is one of the few countries which has recovered quickly from recession. And now we are moving up to be one great economic super power. Many MNC have realised that, and are doing whatever they can to tap the potential in India. And it’s not the MNCs, but the homegrown companies is what I’m looking forward to see. They are growing fast, and taking the world like a storm. I wish that the recession be only a boon to the Indian companies to grow bigger and stronger, bring that “Made in India” feeling to prominence.
Oh, and what about socialism? Yes, what about it? Is it not the same socialistic country, the USSR, which has fallen like a pack of cards, and had to go for reforms to save their face? Have not India been a socialistic country before? And that we too had adopted reforms to bring in privatisation? Then one may point out, what about China? It is a communistic country, and it’s making giant progress too. Yes, China is taking huge strides in development, becoming a massive superpower. But I don’t think China will last long. For the fact remains, China’s people are still not free. One day or the other, it will break, I say. India on the other hand, has a much better chance. We have adopted better policies, better thinking, and free people taking up responsibilities. Yes, there will be hardships in the future, maybe an even bigger recession than the present one. But we cannot strive for growth if we live in that fear that one day the markets might collapse. We must go out, fearless, and conquer the world. If the recession does come, we will be ready for it, for we have already experienced it. Maybe it maybe of a different type, different orders of magnitude, and all. But I’m optimistic of the fact that capitalism is here to stay, for it follows the very principles that nature follows – The Survival of the Fittest!