Let's not pretend that third world debt is about wise investment of borrowed money in order to develop a country's economy more quickly. If it were so, the countries which borrowed the most would be the ones doing well. Without getting into statistics, I'll just point out that debt is more often hurting these economies than helping them. Debt is there, though, so what can be done about it?
Economy: February 2006 Archives
In this fight for independence, the Indian leaders committed a blunder. they should have engaged themselves in an economic fight instead of starting a political movement. The British took advantage of this blunder of the Indian leaders. They got the opportunity to divide India into two parts. They infused in the Muslims the idea that the Hindus formed the majority, and that therefore if the British quit India the government would naturally go into the hands of the Hindus, and the Muslims of the whole of India would remain as their subjects.
This shrewd policy yielded good results. A Hindu phobia grew among the Muslims. The Muslim leaders began to propagate this Hindu phobia at the top of their voices, and as a result of this anti-Hindu sentiment created out of Hindu phobia, a Muslim nation was again born in India in this twentieth century. Directed by this Hindu phobia, they demanded a separate homeland for the Muslim nation. It was not possible for the Hindus to resist this demand for a separate homeland, because at that time no nation which could be termed a Hindu nation was formed in India.
The next image of the future which is increasingly gaining adherents is that of global collapse. This image is constituted in various discourses. The first is the economic. In this perspective, the world economic system's inability to deal with increasing levels of inequity (within nations and between nations), the international debt load, and rising speculation in the global stock markets will lead to a global collapse of epic proportions. Areas integrated into the world capitalist system will be particularly hard hit; those areas that are self-reliant will manage, though. This image is also constituted in the language of the return of the Vengeful God. Because Man has tampered with nature (through technological development--genetic engineering, space exploration, overindustrialization), nature is now striking back--we can't escape our collective karma. What will result is environmental catastrophes such as the Greenhouse effect, earthquakes, nuclear meltdowns, water shortages, and other wonderful things one can ponder while one falls asleep at night. Religious groups, in particular, are eagerly awaiting this event, or series of events. For many it is the Armageddon, the return of Christ, the Madhi, or Amita Buddha. It is the collapse of the hope and promise of the science and technology revolution, of the rationality of the enlightenment, and of liberal democracy. While some imagine this collapse as leading to the arrival of heaven on earth, most see this world as that of the rise of the worst of humans, a post-nuclear society ruled by the mighty.
In attempting to unravel the mysteries of history in imputing order to the seemingly disorderly currents in the human past, in reaching out to the future, Sarkar has joined the august company of Toynbee, Marx, Hegel, Spengler, Wells, among many others; and in erudition and breadth of vision, he is not excelled by any. Quite a few scholars have endeavored to detect in the chaos of history a certain rhythm, and imperceptible harmony that complies with certain natural laws, but their peers, suspicious of anything conferring rigor on past trends, have criticized and scoffed at them. Sarkar's contribution, however, belongs to a different genus. It is immune at least to those strictures to which other theories of historical determinism have been subjected.

While the vision above presents Sarkar's thinking, it does not place it in the context of other images of the future. By placing Sarkar's vision in the context of other images we will better be able compare his thought. We use as our points of comparison, the images developed by futurist James Dator.32
This new era, however, for Sarkar is not one that pits spirituality against science. Sarkar believes that technological development controlled by non-capitalists, by humanists, will lead to increased economic growth, intellectual development and social equality. Sarkar, in fact, sees the development of technology that will have "mind" in it, that is, technology that will have some level of self-awareness. Most likely this will result from developments in artificial intelligence. Sarkar also forecasts that once full employment is reached, and once the untapped potential of humans, individually and collectively, is increasingly realized, instead of massive unemployment because of productivity gains from robotics, we will simply reduce our work week, such that "one day, we may only work five minutes a week. Being not always engrossed in the anxiety about grains and clothes, there will be no misuse of mental and spiritual wealth. [We] will be able to devote more time to sports, literary discourses and spiritual pursuits."
Sarkar has described the inner spirit of society as to “move together”. Society originated as a family in the early phase, and was strengthened subsequently under the guidance of group mothers and group fathers. Later, with growing social complexity, group leaders emerged as kings and queens. The emergence of classical religion made the social structure stronger under the dominance of the priestly class.
