Posted on January 20, 2017. Filed under: Uncategorized | Tags: Delhi gdp, GDP, global society, Globalisation, income inequality, London city, New York gdp, politics, society, universal pay |
For starters, what is globalisation ? And is there a metrics that can help us measure the level of globalisation ?
The standard acceptable definition of Globalisation is that, it is a process that has enabled interconnectivity, thereby increasing trade and exchange of ideas as well as cultural experience among other things. Globalisation, as a process spread over 100 plus years has made the world richer, in terms of GDP. The process has also enabled the local champions, to become international bigwigs. And these international bigwigs have then, gone on to influence the change, or in other words, the process that, we have learnt to call ” Globalisation “.
To understand the affect of globalisation, we could look at how our main cities and societies living within those cities, have today become truly global, and therefore globalised in their views. So starting with New York City, which has an estimated GDP of around US$ 1.5 trillion, followed by Tokyo with an overall GDP of approximately US$ 1.4 trillion, and then London with an estimated GDP of approximately US$ 700 billion, followed by Paris with an overall GDP of around US$ 625 billion. And the other emerging global cities including of Delhi, which has an estimated GDP of around US $ 368 billion, are all bigger than some countries, in terms of their economic size. These city economies have reaped the benefits of the relatively freer flow of people as well as ideas supported by flow of capital from around the world. And it is quite safe to assume that, majority of the people living in this global cities, will have a favourable view of globalisation and the interconnected world.
Capital and ideas do not have geographical boundaries. Any attempt to limit or restrict the flow of capital along with ideas will only stifle progress, and it also goes against the natural evolutionary process. Over a 100 year period, human productivity, which is generally measured as a ratio of total output versus total Input, has benefited tremendously from innovation. And we are slowly reaching a point, where in certain sectors of the economy especially manufacturing, humans productivity as well as efficiency is no longer able to compete with the automation process driven by robotisation. Also, there will be increasing pressure on human as a labour force, to continuously reskill themselves. We may work longer, but on a lesser pay ( in terms of overall living standard ) than the previous generation. Technology may have made our lives easier, but it hasn’t increased the overall disposable income of people in general. So, a sizeable percentage of the population within our society will continue to feel under constant pressure. And this pressure and feeling of being slowly eroded isn’t all due to globalisation. The answer and the underlying reasons are more complex than some of us would like to suggest or believe.
The society that, we live in and along with it, our economies changes over time. And that’s part of the natural evolutionary process. Our body changes as we age, that’s how the biological process is designed. We aren’t physically capable of doing things that, we could do as a 16 year old, at the age of 60. So, we learn to adapt accordingly. Humans and humanity’s ability to adapt to change has been at the forefront of our evolutionary advancement. And the next generation of humans will have to be much better equipped than us, to stay relevant. Genetically speaking, humans are 99.99% the same, but we are still different in many ways including in our overall level of individual productivity. Not all the work force doing the same job, will have the exact level of productivity.
A human life is, more of a marathon than a quick sprint, and in the end, how we run the race decides where we end up. And the idea that, governments and political leaders can somehow help us stay in the race by changing the rules of the race in our favour, isn’t a permanent solution. We may get tempted to vote for those who identify with our problems, but the solution to the problems won’t come from pushing back against the natural evolutionary process. To facilitate a change, we must be prepared to change. And to change, one has to be ready to adapt to the changes.
Universal pay guarantee for those living below a specified and tested poverty line, could serve as the spring board, to help support those who may start to fall behind in the race. The fact is, not all of us will win the race, but we could try to finish it, without worrying about our individual ranking. We join the race, the day we are born, so we don’t really get to choose. But we can learn, how to run the race better. This is where, the society and governments could help, and they should.
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Posted on February 25, 2015. Filed under: Uncategorized | Tags: benefits of social media, celebrities on social network, economic activity of social media, facebook, Google, making money from social media, politics using social media, social experiment, social media, society |
The advent of Social media platform has given us the opportunity to create the largest social experiment in modern human history, it is quite clearly, the biggest study of social behaviour of modern HUMANs. I believe, developing a better understanding of human psychology is key to everything we do as a human being, be it, creating a better and efficient financial markets, a sustainable business and economy, public policies, human relationships among other things.
Today we live in a world where social media has a very significant and visible presence, and a sizeable percentage of the world’s population is now actively using various types of social networking platforms. And this has created an opportunity for business as well as politics to evolve.
So a company is now able to collect a better and faster feedback from its consumers. For example, a marketing firm with access to social media can now follow a wide range of people spread across the world, and better profile their behaviours as consumers as well as individuals. The informations collected through social media are being widely used by companies. And companies that are able to keep an interactive and engaging presence on Social Networks are benefitting from it. The prime example is TESLA, by using social media, the company was able to quickly spot the problem with fire issues related to its Model S cars, and managed to quickly respond to its customer base by engaging in an interactive conversation enabling it to win back confidence of its customers.
And besides commercial companies, political parties across the world today are learning to better utilise the social media as a tool to put their message across and connect to their audience. There are also new types of social media celebrities with millions of followers enabling them to make money by promoting and endorsing various products.
Based on recent studies, it is estimated that in the year 2014, a social media platform like FACEBOOK managed to create $ 227 billion worth of economic impact globally. And Google’s own report suggests that it generated over $ 111 billion worth of economic activity in 2013 for 1.5 million U.S. based businesses alone . Although measuring the direct and indirect economic impact of social media is still a work in progress, there is little doubt about its overall impact on the society in general.
And besides the economic impact, here is what I believe this social experiment has helped us learn about ourselves so far.
– in general most of us like and enjoy connecting, and connectivity
– we like to be appreciated and liked by others
– we like to share and crave feedback
– we have opinion on almost anything and everything, and we do like to express our opinions if given an opportunity
– people tend to follow and respect those they like
– people have the ability to spot pretence and have a soft spot for people who we tend to think are more or less genuine
– we like creating communities, and we are in fact, a social being
– most of us like being useful
–in general people do tend to have interest in other people’s lives
– new revolutions and movements are now being created and spread through social media
– social media has created a new breed of celebrities
– people do tend to reveal themselves through their words and what they post and share on social media.
And there are many other aspects of human behaviour and personality that is getting manifested and reflected through social media including obviously the SELFIE phenomena.
Social media is no doubt the invisible force that is reshaping parts of our society, and like any HUMAN idea , it isn’t perfect. The increasing connectivity has made our world smaller by bringing people and society closer, but a person and the society in general can’t just exist and live in a virtual world. And whatever may become of social media going forward, I believe , it is evolving into one of the greatest social experiment of modern times, and if as a society we learn to better utilise it as a tool that not only has economic impact, but also allows people to connect, reach out, openly discuss wide ranging ideas, enables collaboration, helps to openly discuss and settle grievances, learn about each other and the world around us then we could all possibly work together to create a better society, and in the process build a better tomorrow. But it will all depend on the choices we make today and going forward !
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