Welcoming’12, Seasons of ’11 and accountability

For some new year is getting new fancy, even more exposing table calendar and flaunting that. For some it is a continuum of the life – life as usual. For some it is a time to celebrate. I think this is the occasion when we should ask ourselves what happened last year and what should be improved? In 2011 I asked myself -” would I support places such as Barasti in Dubai?” I felt that Barasti is a place which supports racism and I decided against going there.

When it comes to the year 2012, some time back there was a rumour about the year 2012. Hollywood made a movie – 2012. That movies speaking about this year as a question of existence, right? Well, why start the year with that question. Or we can start thinking about existence and ask questions to ourselves. Look at the 2011, what we did not see? We saw Arab Spring, Summer of India/USA and Winter of Europe. Let me elaborate –

Arab Spring – I was in middle East during the time when Egypt, Bahrain, Yemen and other such uprising were in news. I wrote in 2011 about Arab uprising – Power Corrupts. Yes, it does and had been in question for Middle East in 2012.

Summer of Europe – Have you not noticed that the production in China, industrial growth figures of India and other developing nations were not positive lately? The likely reason for that is slow or negative growth of developed nations e.g. USA and Europe. Euro zone saw a unique problem this summer of 2011 when countries were likely to default on their loan payment! I asked a question to myself Euro is it dead? and in May 2011 asked my Teacher of economics – Professor Mankad is Euro dead? We saw the turmoil of Euro for couple of months. Lately, I read on Reuters that “the Euro is not an experiment…” ECB executive said that. On a lighter note – “as if it was supposed to be an experiment until now”. Personally, I am in favor of the kind of economic zone Euro has created. However there are problems with accountability which needs very strong measure.

Winter of India and USA – Euro zone crisis did not end and we saw another people’s movement – the Lokpal movement in India and Occupy Wall Street in USA. In brief Lokpal bill is to curb corruption and bringing high and mighty beurocrates and politicians under the ambit of LAW. Strange a democratic country India talking as if it is an autocratic country where KING/QUEEN (beurocrates – include lower and upper – and politicians) is above the law. On the other hand citizen of USA were questioning ‘the top 1% holding maximum wealth‘. Why not Investment Bankers take responsibility for not only creating toxic assets but also burning those assets which eventually ruined the economy – of the whole world.

Well what do you make out of these seasons of 2011. If I look back and take a macro perspective – all these big events of 2011 were Questions on “accountability”. Let us begin the new year with taking responsibility of our actions and working towards a peaceful (Middle East), moral (India) and equitable (Europe and USA) world.