my comment on http://blogs.ft.com/capitalismblog/2009/03/13/read-the-big-four-to-know-capital%e2%80%99s-fate/#comments

By franciskj

Paul’s piece sounded like medical prescription of naturopathy. people of Indus Valley had discovered a great truth that every thing in nature has some kinds of therapeutic value. So they prescribed daily activities as part of some religious rituals.It worked like miracles.Because it was based on scientific method of cause and effect modules.

When I went to watch Sound of Music as a teen ager, my Marxist neighbour “PJ” advised me to sit in the theater till the movie finishes. I did exactly the same. Though i didn’t understand a single word that time, certain images and messages of the movie still revives in my memory.

When I was studying in XI class I used to play Rummy with PJ even as we discussed philosophy of Marx. Officially i was not allowed to sit with PJ too long, since Marxism was treated as dangerous for “good boys” from ‘good families” to get exposed to, during those days. He treated Brothers Karamasov of Dolstoywisky as his Bible. He tried to translate ” The Godfather ” into his language. Another book I read from him was “Mayar of the Casterbridge” of Thomas Hardy. He was particular about one aspect of discussion. There should be seriousness in the discussion. One should mean what one is saying and stick to it. Don’t discuss for the sake of talking. He used to read through the night with a oil Lamp. When he got a bonus of 10,000 bucks , he went for a tour to buy books of his liking from second hand market. He was a puzzle for me that time and I was determined to understand his mind one day.

When I learned English, the first thing I did was I bought all the books I had found him reading. So all the above books were read to understand him. Probably he was the one who instilled the habit of investing in books to find one’s unanswered questions. When my daughter Rosemary was born in 1991, personally I was feeling exactly what America is feeling now. There was confusion as to decide which road to travel.

The way Marx and PJ did I joined American Library and scanned almost 90% books and magazines spanning more than 100 years, in three years. Which included 72 years of Harvard Business Review , New York Times for example. I was the biggest customer of American Library that time.I still remember the thought that was in my mind one day, that may be it was the same way Marx or Adam Smith learned evolution of social science.If so who knows one day I might become another Marx or Adam.As you suggested I had prepared a list of selected articles and books of my selection from American library and published them as an index book m 1996, in association with American Library.

Paul’s suggestion is excellent. The point is that world has changed so much, later. I had changed earlier. It is really heartening to see that Paul was allowed to talk about and recommend the books of old bad boys. It is my suggestion that go and sleep in the library, that is better than having a Palace without books of thinkers. Let us follow what, in Mayer of Castor Bridge, Michael’s daughter, said “it is better to learn new words than buying part dresses”. teach our children to learn to live with books thrown around the room. In my peak of reading I had at least 200 photocopies of HBR scattered in my room. Reading and sleeping over them was like sleeping over Billion dollar bed.

But Paul, reading alone will not solve a problem. But it is the least one is expected to be doing if one is inclined to find a solution to current economic problems. I have been doing it since 1991, from globalisation process to economics to management and education , I had researched all aspects of all technogies especially IT and telecom , nano, later Indian philosophy , religion, metaphysics and educational psychology, emotional science, to political science to anthropology to futurology, I have done it all

It takes more than reading to get fired up. That is what Obama said – it is sensitivity – a crucial psychological quality which can not be provided but one has to dig into oneself to bring it. out. . .
That takes more than reading and commitment.

I appreciate Paul. But he is capable of doing more.My advice to participants of this debate is that as PJ had told me, do it with passion. Be more articulate. Nobody will kill you for expressing a new idea however stupid may it look like. Be fearless to express one’s inner core. Propose at least one new suggestion in explicit terms, as an action Obama can try.

So it is my final point – propose an action
I can with 100% accuracy estimate and preanayse its economics , opportunity cost and Implication cost with my tools and I suppose Ft has all data needed for that.
Let us make history by converting this crisis into a new opportunity for creative economic ideas.

i will add some more later

for example “what is the difference and similarity between entrepreneur, investor and capitalist ‘?

franciskj

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