This is the beginning of the new decade. (Despite the hype, year 2000 was not the beginning of the new millenium, it was year 2001. Hence 2011 marks the beginning of the second decade of the Millenium).
The past two decades have been spectactular, as it has seen the collapse of the two dominant economic models - the communism in 1990's and the capitalism in 2008. It would be naive to assume that the underlying philosophies behind both the models are wrong. Like anything else, the system is always good. It is the people who man the system who allow it to collapse. In the case of communism, it was the lust for power of the communist politbureau members and the top brass, while in the case of capitalism it was the greed of the top bankers that ensured ruin of the systems.
This is where the ancient Indian philosophy that lays considerable stress on ethics and value system comes to the fore. As one of the emerging economies, we need to sell our unique economic model built on the above two pillars to the outside world. We have a rich heritage, a treasure cove of knowlege, corporate governance models in our upanishads, vedas, and books like arthasasthra. The knowledge in them can be universally applied across eras. Before we promote them globally, we need to understand our own heritage, imbibe them and implement them.
For that we need a great leader who will show us the way? But where is he?
