Originally published in March 2001
Present Economic Disorder
Booming or busting, one has to live his times. We are passing through a difficult economic turmoil. It is some thing more than the conventional economic cycle. It has stayed longer than expected and may last our lifetime. But we have to work hard for our generation to come.
We are in a serious Debt trap. It is caused because of our wrong economic priorities of the last five decades. We are facing the shattered investors confidence, high unemployment, negative growth, high inflation, increased costs and erosion of profitability as well as brain drain at a faster rate. This is happening in the back drop of the New World Order where the protective tariff walls have fallen and lucrative sources of state revenue are no more available and we have to strive hard to mobilize our resources to meet our development needs, social uplift and other programs.
