Blog me...curiosity redefined

     The world in the recent past has undergone arbitrage in terms of the labor. We saw the jobs move from developed countries to developing countries like India, China and other south east Asian nations. The competitive advantage these developing nations had in terms of their capability, skills were utilized to the maximum. This led to the developed nations to think why can't such a labor arbitrage happen within their own country? Aren't there few states where the laborers are comparatively cheaper than others within the country? Well it did work for short period as the economics of efficient resource utilization across the world would dominate in the longer run.      Now the situation is gradually shifting within the labor arbitrage but not in terms of geography but in terms of automated machinery (or robots) doing the same job at faster pace with better efficiency. Where does this lead to? My view is, we are evolving right now thinking that robots can ...

          Pic courtesy - Internet      Yes indeed, this picture conveys more meaning than you could ever imagine. Inequality among the society is one such message that is being conveyed.      The real question is what are you as a human going to do about this. Thinking as an economists, you may argue that inequality in the society is what drives the economy. But wouldn't you agree with me that this inequality has gone beyond the limits.        Imagine a world where the most developed country would help the least one like Zimbabwe, Burundi to come out of poverty. Wouldn't the world be a better place to live? Financial aid is the last thing in my mind. I am talking about helping the country's progress in all aspects through collaborative governments in areas of industrial production, employment, education, healthcare. It is normal to think what would the developed country gain out of this? How about some ...