The Economist magazine announces in almost celebratory tone that “big business” is back. But a spirited discussion follows in the comments section on the merits and demerits of big corporations.
Recalls The Economist:
“In 1996, in one of his most celebrated phrases, Bill Clinton declared that ‘the era of big government is over’. He might have added that the era of big companies was over, too …
“Today the balance of advantage may be shifting again. To a degree, the financial crisis is responsible. It has devastated the venture-capital market, the lifeblood of many young firms. Governments have been rescuing companies they consider too big to fail, such as Citigroup and General Motors.
“Recession is squeezing out smaller and less well-connected firms. But there are other reasons too, which are giving big companies a self-confidence they have not displayed for decades. Everyone agreed that the future lay with entrepreneurial start-ups such as Yahoo!
“The return of the giants could well be a boon for the world economy—but only if business people and policymakers avoid certain pitfalls. By and large, the most successful big firms focus on their core businesses.
“Policymakers should both resist an instinctive suspicion of big companies and avoid the old error of embracing national champions. It is bad enough that governments have diverted resources into propping up failing companies such as General Motors. It would be even more regrettable if they were to return to picking winners.”
And now, a sampling of the readers’ comments in The Economist:
“Big has its place and it should only stay there. Big writing the rules, regulations, policies and laws for governments (this has a neat term) gets too greedy and falls apart from within. A balance between ‘thinking globally and acting locally’ does make a lot of sense.”
“How can you discuss big is beautiful without mention of the terrible costs to our world economy that big banks have given us, by being too big to fail, and that the toxic assets are being swept under the rug while the market rallies? Big resource companies are buying land to control biofuels as well as mining/energy resources–often bribing local government officials to give away public resources.”
“How can you discuss big is beautiful without mention of the terrible costs to our world economy that big banks have given us, by being too big to fail, and that the toxic assets are being swept under the rug while the market rallies? Big resource companies are buying land to control biofuels as well as mining/energy resources–often bribing local government officials to give away public resources.”
“There’s a reason for regulations, and it’s not to give more power to government, but to ensure that greedy, unethical people (running corporations) don’t trample on the rights of citizens. Corporations do not have divine destinies! And it’s the liberals who are more likely to make their profits honestly, and use them to help their fellow man!”
“Regulations do nothing but kill growth!!! Just like Pilate dictated over the huge temple of Jerusalem does Washington want to dictate over that huge manifestations to god which are today’s corporations.”
Swaraaj Chauhan describes his two-decade-long stint as a full-time journalist as eventful, purposeful, and full of joy and excitement. In 1993 he could foresee a different work culture appearing on the horizon, and decided to devote full time to teaching journalism (also, partly, with a desire to give back to the community from where he had enriched himself so much.)
Alongside, he worked for about a year in 1993 for the US State Department’s SPAN magazine, a nearly five-decade-old art and culture monthly magazine promoting US-India relations. It gave him an excellent opportunity to learn about things American, plus the pleasure of playing tennis in the lavish American embassy compound in the heart of New Delhi.
In !995 he joined WWF-India as a full-time media and environment education consultant and worked there for five years travelling a great deal, including to Husum in Germany as a part of the international team to formulate WWF’s Eco-tourism policy.
He taught journalism to honors students in a college affiliated to the University of Delhi, as also at the prestigious Indian Institute of Mass Communication where he lectured on “Development Journalism” to mid-career journalists/Information officers from the SAARC, African, East European and Latin American countries, for eight years.
In 2004 the BBC World Service Trust (BBC WST) selected him as a Trainer/Mentor for India under a European Union project. In 2008/09 He completed another European Union-funded project for the BBC WST related to Disaster Management and media coverage in two eastern States in India — West Bengal and Orissa.
Last year, he spent a couple of months in Australia and enjoyed trekking, and also taught for a while at the University of South Australia.
Recently, he was appointed as a Member of the Board of Studies at Chitkara University in Chandigarh, a beautiful city in North India designed by the famous Swiss/French architect Le Corbusier. He also teaches undergraduate and postgraduate students there.
He loves trekking, especially in the hills, and never misses an opportunity to play a game of tennis. The Western and Indian classical music are always within his reach for instant relaxation.
And last, but not least, is his firm belief in the power of the positive thought to heal oneself and others.