Despite several economic/political crises, the global economy has not collapsed

- The Conundrum of Economics - Dhawal Mehta

- Right-wing thinking that increases the number of billionaires in that country

The recession of 1930 created by America destroyed the world economy. After the Second World War, in 1933, the OPEC countries tripled the prices of fuel oil by gradually increasing the price of fuel oil, and the countries of the world were caught in an economic crisis with a mixture of stagnation and inflation. The combination of high prices and economic depression was a completely new and impossible thing for the economy as a whole. In theory it was not possible but it happened. The economic crisis of 1973 brought Margaret Thatcher to power in Britain in 1979 and Ronald Reagan in America in the early 1980s, and right-wing economics (commonly known as neoliberalism, market fundamentalism, or laissez-faire) around the world. This type of right-wing economic growth rates are fast but it And the inequality of wealth increases and that increases the number of billionaires in the economy of that country. For example, in the last 25 years, the empire of Adani-Ambani became bigger than the economic empire of Birla-Tata in India. This kind of economic dominance (increase in the number of billionaires and their (unprecedented increase in wealth) is not only a product of capitalism.

The number and dominance of billionaires is also increasing in Russia-China-North Korea etc., who play the game of economic equality. The noble mission of Communism and the way it manifested in practice (Really Existing Marxism) disillusioned Communist thought. In communist countries its dictators became dictators for life. The world is currently in the state of 'Between Devil and Deep Sea' in terms of economic thinking. Because the welfare state there provides services from horse to grave (frame cadle to grave) to the citizens.

In this regard, America is well behind countries like Sweden, Norway, Iceland, Holland, UK, Switzerland. In all these countries, the life expectancy is above 80 years, but the longest average life expectancy in the world is not of the citizens of America or European countries, but of Japan. In America, the average life expectancy is still a little less than 80 years because the condition of the black American citizens of America is not as good as that of the white American.

Despite many economic or political crises, the economy of the world has not collapsed. Before Covid hit the world in 2020, the average growth rate of the world economy was 3 percent which is almost three times higher than the current rate of world population (only .9 percent ie less than one percent). Is. In 1800, that is, about a quarter of a year ago, the population of the world was only 100 crores. At present it is close to 800 crores. Fifty years ago the world's population was growing at an average annual rate of two percent, which has now declined to less than one percent as seen above.

The time at which the world's population will stabilize and then start to decline is uncertain.Artificial intelligence in India and the world will boost production tremendously.The world is currently suffering from run-away inflation. It is possible that the world will suffer from run-away economic growth in the future. Of course India is now suffering from run-away religious elves which is misleading to call spiritual progress.