SIVAPRAKASH P R

Originally Posted by SIVAPRAKASH P R

If we analyze reasons for current state of US and European economies we can see two things.
One fall of Soviet Union two Globalization
During cold war era, US and its allies spent billions to compete with communist world.They invested huge amount of their wealth for education infrastructure development,research and innovation.There were incentives for innovative business models which encouraged entrepreneurship .During cold war era best brains were attracted to the West.After the collapse of communist regime the lone super power and its allies turned against the terrorism where scope for competition is nill.Instead of spending for education and research they wasted their money as a dead investment for their globalised war especially in Iraq and in Afganistan.Due to globalization emerging countries became capable of competing with the heavy weights of west.In many sectors they out performed western powers.That lead to the current economic catastrophe which prevails in the western world and makes shock waves across the world.

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