By Utkarsh Agarwal

Pearson has exposed me to different ways of human thinking. One stream of thought that I have imbibed from Samuel, my economics teacher is the notion that human behaviour is largely guided by the finances, or in other words, humans have increasingly become Homo economos from being Homo sapiens. This stream of thought makes more sense today as we struggle through the economic crisis, in an increasingly popular situation where the pink slips are being handed to workers at a rate which is reminiscent of the chicken being sold during the bird-flu crisis in the Middle East. The ghastly monster manifested in the form of the economic crisis that stands in front of humanity today is not undefeatable, if a sincere effort on the part of the entire human population is imposed in combating it. The notion of “moi et maintenant” needs to be replaced by a more communal effort.

A couple of weeks back, when I was informed of the opportunity to present the current global economic crisis, I knew I was in for a challenge. For one, the crisis has so many cross related issues that intertwine to present a soup so thick that it is tough to digest it. What the world has relatively easily realised today is the fact that these are certainly not the best of commercial times; that due to certain short sighted polices on the behalf of the unipolar leader, the entire world is plunged into a deep disastrous downturn that seems to be affecting the rich and the poor, the healthy and the needy. As Obama would say in a different context, “the planet is in peril”. Now what needs to be seen are the solutions. If at all anything good has come out of the disaster, it has come in the form of a hard-hitting realisation in the gut. We need to be watchful of our greed. We need to watch our spending, invest in sustenance and encourage stability. As Thomas Friedman would argue, more doesn’t always translate to better.

As I prepared for the presentation, a few thoughts crossed my mind that has left a lingering imprint. It has raised issues of globalisation, and if it all is helpful for commerce. Do the nations need to introspect and become more self reliant, and in that case how would we benefit from the theory of comparative advantage? On a geo-political scale how would the world react to these harsh times? Humans bear in them, just like the original sin, the intrinsic propensity to panic when faced with a crisis. It is here when the self becomes bigger and more important. Humans react in their own best interest. How would this translate to issues of diplomatic relations, power struggles and maybe even wars for resources like the Iraq war? Would a crunch of resources and production throw the humans off their feat, or can we still repose that trust and the faith that we bear in each other and stand together as one?

It’s always enjoyable to deliberate contentious thoughts in this critically appreciative society, and least to say I had a pleasurable experience alongside Vivien presenting the grave scenario that lays ahead for us. (Wasn’t the world ending anyway due to Global Warming?) I have to admit that I see no one specific plan of action that can alleviate us out of the crisis. If I had one, I would be out there making millions and donating money to the school. The best course would be to wait and watch the implementation of different ideological economic theories that seem to have sprung-up like mushrooms during the rainy season.