Rethinking Capitalism In Young Economist Students´ Meet ( Yesm!)

1268 words - 6 pages

I also had this question in mind when I first heard about Young Economist Students’ Meet, in my first year of undergraduate course in the Department of Economics, Jadavpur University. Being associated with YESM for the past two editions and based upon whatever minute economic and logical reasoning and knowledge as well as practical experiences in many situations of life, I have gathered over the years a very certain fact that I have realized, -
It is not always by one’s academic superiorities or leadership skills or in the strength of one’s “contacts”, can one COMPLETELY, make a substantial difference in his/her own life, let alone be of that in a society’s, in a country’s, or for those who think big, - in the world’s welfare. I have always believed that although these factors do matter minorly at the initial and intermediate stages, but they are more of a channel, - a channel via which the main engine will drive our future and consequently the future of the society, of the country and that of the world (if one is willing to). That main engine according to me is our “inhibited application of the KNOWLEDGE that we have, and will, acquire”
YESM primarily aspires to propel this very thought process amongst the students it reaches out to, - an attempt to ignite the minds of the future, for the future!
Coming to the theme of YESM 2012, on RETHINKING CAPITALISM, YESM looks to delve into the more practical world of today, coming out of the realms of assumptions and perfect models. Nobel laureate, Albert Schweitzer (1875 - 1965), on being asked in an interview, “What’s wrong with men today?”, saddened for a while, answered, - “Men don’t think”
Today’s students study, keeping in mind the major priority of having a secured future. A question crops up regarding the reason of education also! Where do most of our top mathematicians other graduates from top Universities go? The answer is FINANCE! But is it what they thought of while choosing that discipline of study? Has the hunger for money overpowered the power of passion? Long are the days gone, where people like Dr. Jonas Salk on being asked, who owns the patent on the Polio vaccine, answered , - “The people.. There is no patent!”
Capitalism is a structure which thrives on constant accumulation, - accumulation of profits, - a system, that enriches a few, at the expense of many. The best example we find is The United States of America in the early 2000s when capitalism was in its prime. To increase profits millions of workers were laid off overnight with the remaining being forced to work twice as hard, - although productivity increased but the wage rate remained static. Instead of giving workers a decent wage they were encouraged more and more to have borrowed money until their debt shot up so high that they lost their own properties. Bankruptcies increased. Sale of anti-depressants and other medical facilities to combat the critical and sensitive mental situation of the common man increased at the rate...

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