Daily Meditation: Monday, March 12, 2012

Economy - science of prediction

03/12/2012

Good economists should not only deal with the production and distribution of wealth but also be capable of predicting. Yes, economy is the science of prediction. And predicting means not being satisfied with solutions because they seem satisfactory for the present, for who knows what will happen later? Once a country realizes it is committed to a path that is becoming dangerous, it is very hard to turn back. We have seen it happen so many times! You will say, ‘But what can be done? Most of us do not have means of intervening in the affairs of the country.’ I am not saying we must intervene directly but that we must understand that the economy is not just up to economists but up to all of us. As human beings, as cells of a living organism, we can act, but to do that we must develop our awareness and our sense of responsibility. If this awakening does not take place, instead of bringing prosperity, as it claims to do, the economy will bring about the ruin of many countries.