Saturday, July 6, 2013

Greed untamed builds Casinos and breeds chaos

The huge Casino towers on the Canadian side of Niagara Falls stand tall to assert that the soothsayers have long life to bring seeming riches to some, standing riches to the investors of Casino and catastrophe to millions. Over 66 percent of the Toronto citizens voted against its entry as they are convinced that their hard earned valets vanish in a jiffy and move to unknown territory of unpredictable and unproductive investments.

Real money is being bet on the strength of computers. The mobiles did it all for the betting on IPL in India. Several reputed players stand in the jury box if the investigations go right ere long. All the betting is done on a  series of predictions in simulated situations and several won and most lost. This is just akin to trading on derivatives of sorts that had no originating asset in the pre-crisis 2007.

Human behavior is never consistent. Riches get entrenched in greed. Greed can never be regulated nor can virtue. But the system can halt the greed if rightly regulated. Ethics can tame it. Riches are visible but ethics are invisible though inherent. Every person looks at the visible and goes after it. A 'Narayana Murthy' takes over two decades to build an ethical empire in Infosys for another person to bring it down in three years!

How do we develop consistency in hierarchy and governance? When can we have institutions to have choices instead of individuals to positions that matter for growth of institutions?  When can we have ecstasy instead of agony in choosing persons who refuse to identify themselves with caste, creed or religion, reserved or unreserved category to claim positions of leadership in organisations and governments? When can Indian Constitution that is tethering with more than 100 amendments outpaging the original constitution be re-written to provide the next generation protection of a strong tripod of democracy? These questions do not defy an answer if at all the people are willing to find an answer. It starts with good education and building healthy minds from the childhood.

The problem of excess greed has become universal. Even Mr Carney, while assuming charge as Governor of  central bank of Canada said: " Trust has screached out of the parking lot  with the collapse of the investment bank that left the global financial system teetering." He added: "Integrity cannot be legislated but it also certainly cannot be bought in a market place however free the markets are." A change in culture is individual's responsibility.

The aim of the blog is to set people thinking on these issues and acting in their own limited spheres to bring the needed change in thinking and approaches.