Saturday, January 22, 2011

Greed is Good!!!

Just watch a movie, Wall Street 2, in the movie the protagonist, Gordon Gekko, played by Michael Douglas. In the movie, to promote his book, Greed is Good, Mr. Gekko mentioned why Greed is good and invincible now.

He said, with each passing day, we are getting greedy and greedy.Now, people want more, which means more money, more car, second house, better education for the children and may be in some case more children also :-).

His point of view is totally correct, just to understand it better and also in the context of emerging markets, esp. India. Today, India is 5th largest economic house in the world, if we go my economist predictions, if it follow annual growth patterns of 10-11% p.a., in 20 years, India will be 3rd largest economy in the world.

But with the great growth patterns, one thing which will be certainly haunting people, esp. poor people(one third of India population live below poverty line) is the high level of inflation. Currently, India's food inflation is hovering around 18%. In a recent cabinet meeting to curb price rice, conducted by India's honorable prime minister, Mr. Manmohan singh, during that meeting one thing came out , the change of eating patterns of Indians. But its not only about the eating patterns, its the whole pattern, they are buying high luxury cars, they are buying houses, I mean multiple houses, and off course bringing up more children. This is where the greed comes and with every changing patterns is getting invincible. These greed may be good for some people, but if you consider lives of other people or environment, its getting worse day by day.
So, lets see how can we make this invincible.