Aristotle probably could foresee the challenges of the 21st century. As the chimneys billow smoke and no one wants to cut down; and as the world’s largest two economies, the US and Japan put their money printing machines in top gear, what suffers are Mother Earth and its best creatures, the human beings.

Everybody loves a pep-talk on climate change and on inflation; however when the point boils down to take responsibility, we see very less action, barring…well…to some extent Europe.

Aristotle noted “That’s which is common to the greatest number has the least attention bestowed upon it. Everyone thinks chiefly of his own, hardly ever of the public, interest”.

Today global warming is a global problem, and today – inflation also is a global problem. Both are inter-related. Local solutions are unlikely to work here in a sustainable manner, barring Zimbabwe or similar exceptional cases.

Climate, more so related with the air and atmosphere, was always global, not only in its scale but also in its ownership. True, it took some time to realize the damages being done. With globalization in markets and economies, we saw dollarization. Again the in-built system could absorb some of the initial damages, not all of it forever.

Scientists tell us that the universe itself is bounded, it’s not infinite. So the capacity of Mother Earth to bear the ongoing environmental damages or the capability of global unsophisticated markets to face the onslaught of unlimited sophisticated dollarization has its own natural limits.

The call for collective actions to fight against global warming is almost two decades old. More fuel has been burnt on discussions, and very less meaningful actions have been taken. Every nation wants the other to take the initiative.

The present scenario regarding inflation is no different. Japan and the US, citing their internal economic challenges and taking advantages of their strong currencies, are flooding the market with money supply, and thereby exporting inflation to countries where many good things are still free. Ants should not party where elephants dance; true the minnows of present global economies didn’t have any intention to dance by sharing the same dancing floor. The elephants coaxed them, forced them or even enticed them. However this is a dance floor that one can get-in, but can’t get out – as there’s only one global market. So the minnows stopped their money printing presses, in-spite of relatively higher-growth rates and much lower level of monetized consumptions than the two rogue elephants, to reduce the pains to their poor citizens thinking that they still have control on inflation as they had in earlier days.  But that shortage was more than compensated by the stronger currencies, that reduced basic demand in developing nations was more than compensated by credit-demand in developed ones.

Does it matter how much the ants eat or save in a party with couple of elephants?

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