Global Crisis 2011

The year two thousand eleven has so far been one of the most eventful in recent memory. So much has taken place already and things are continuing to happen around the world. While the nature of events differs, the underlying theme so far remains the crisis within the established order and the challenge to the status-quo. We have seen regimes fall across the Middle East, people’s power coming to the forefront whether in India (anti-corruption crusade) or the United States and most of Western Europe (Occupy movement). There is growing restlessness among the majority of people especially of the younger lot across the world. They are frustrated and angry over the multiple crises of economy (corporate failure), environment and governance (greed and corruption of the powerful few). Whether it is the Occupy Movement from Wall Street to Europe or the anti-corruption movement led by Anna Hazare in India, the commonality is their deep distrust of leaders whether political or corporate. Both have lost faith in established institutions. Here one is reminded about the Greek philosophy of Anarchism (not in the sense of lawlessness) but the concept of enlightened individualism, charity, voluntarism and community.
As mentioned whether it is the Occupy Movement across the west, the Arab Spring or the anticorruption crusade in India, the target is against the present state of affairs—the wide scale corruption, abuse of power, inability of economies to create jobs, and the indifference of politicians. While in recent years change is the slogan for many of us who want to challenge the status-quo, nevertheless we should be mindful that change should not lead to collapse, lawlessness, violence or even war. The issue of jobless youth has become a worrisome global trend – what one British minister calls a “ticking time bomb”. The manner in which we have seen during 2011 crisis coming one after the other, this calls for better economic and political management. The credibility, if not legitimacy, of our State system and leaders has come into question. And so this is a good time to reflect on how the State and people can also come closer together and the need to revitalize the relationship between the people and the state.
As we see it, the established order of a State and the existence of leaders will continue. Rather than supplant the State our focus should be on building an inclusive, responsive and capable state where justice, peace, happiness and order can prevail. And in fact the ideal of a free market (and less State) and the notion that the “market knows best” has become a fallacy and dangerous. The crisis in the economy of recent years starting from the western markets of the US and Europe has been blamed on the absence of regulation and the lack of accountability on the part of corporate leaders. In contrast, emerging markets like China and India have been able to negotiate the market turmoil because of the presence of some form of State regulation. The State therefore must continue to perform its primary role of providing order and ensuring that the need of human development and peace are met. For this though, the institutions and leaders which are mandated by the State must perform. People will expect transparency, accountability and prompt delivery of services.       



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