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Showing posts from December, 2021

RAMPANT INEQUALITY

 The problems of poverty, unemployment, illiteracy, squalor and inequality are very much interrelated. According to World Inequality Report 2022 the richest 10% of global population earned 52% of the global income while the poorest half of the population had to be satisfied with only 8.5% income. While average person from top 10% earned $123100 per year corresponding share of the lowest half of  population was only $3920 per year.  Global wealth distribution is all the more skewed with poorest half of global population getting mere 2 % as against top 10% of global population enjoying ownership of 76% of total global wealth. The share of the global top 1%in total income increased from 20% in 1820 to 26% in 1910,consequently dropping to 16%in 1970 and further rising to 21%in 2020.The share of  income of  global top 1% was three to four times larger than the share of bottom  50% between 1820 and 2020.The extent of inequality is moderate in Europe as against it...

JOHNSON'S RULE

 Johnson was the youngest son of the planter couple Chackochan and Mariamma.  Along with Johnson, eldest son Wilson elder son Jobson and only daughter Alphonsa comprised of their family.  After a nursing course from  Mangalore Alphonsa emigrated to Germany. Wilson has been doing spices trade while Jobson was selected as a clerk in the revenue department of Kerala government. Eventhough Johnson aspired to  study Law  his passion for agriculture and commitment to assist his father made him a laborious farmer.  Johnson has been very affectionate towards workers and trying to help them in times of distress especially during slack and rainy season. As flourishing planters both Chackochan and Johnson have been very popular in the area and surrounding places. Meantime an affair developed between Johnson and a Hindu  girl Geeta ,daughter of an autorickshawala.Initially there was much opposition from Mariamma but  Chackochan stood firmly behind Johnso...

PROTECTING THE ECONOMY.

 According to Reseve Bank of India spillovers from imminent shifts in monetary policy by major global central banks and a possible jump in infections from omicron variant could dent the Indian economy's ongoing recovery. India's public health management response to tackle Covid19 depend on the five fold strategy- test, track ,treat,vaccnate and appropriate behavior of wearing mask,sanitization and social distancing. It has been observed that primary immunization prevents severe disease, hospitalisation and death. Ensuring vaccine availability across the world should be the priority of all countries, of course national governments would give priority to their people first . At present the we are in a position to revive Vaccine Maitri initiatives in an accelerated pace.So far India has administered 1.25 billion doses of vaccines and supplied more than 72 million vaccine doses to over 90 countries by way of coordinated global action. Infact pandemic in any particular part of the w...

TAMING CRYPTO MONSTER

 Lot of debates are going on within the Parliament and outside regarding the control and monitoring of private crypto currencies or assets.The crypto currency and regulation of official digital currency bill 2021to be introduced is expected to bring appropriate clarity not only in the control and regulation of private crypto currencies or assets but also to Reseve Bank of India's plan for phased introduction of official digital currency.       Private crypto currencies are treated differently in different countries. The barter transactions are followed in Canada and Russia,it is accepted as a mode payment in Japan, Switzerland and Thailand.On the other hand while El Salvador treated as legal tender China imposed complete ban on it.Crypto currency ownership records are stored through distributed ledger technology known as block chain which serve as a public financial transaction database.The block chains are resistant to modification of their data which cannot be usua...