Deep Economy

Dear Mr, X

I take this opportunity of commenting and giving my views on your book with great honor. I would like to support you especially on cultivating economic maturity which is geared towards human satisfaction and not just increased Gross Domestic Product (GDP).

To start with, I will focus my attention on medical research. A lot of medical researches are carried out, not only to reduce the prevalence of certain diseases to but also to earn income. I will not dispute the fact that the government and scientific research organizations are investing a lot in the researches. My concern is on the market they are aiming. When most researches are in progress, say for instance at the stage of testing, these scientists take advantage of the less fortunate people in the third world countries to use them as test organisms. While doing these, they take advantage of their low economic levels, offering them meager remunerations in order to allow them to carry out their researches. One should take note that it is in the same third world countries where there are high prevalence of the diseases being researched on. After success of a research and the introduction of the drug in the market, these scientists put the prices very high such that the people who are supposed to benefit most from the research end up not benefitting at all. A good example of this scenario is the research done before introduction of antiretroviral therapies. This research was done mostly in South Africa; one of the countries that has a high HIV/AIDS prevalence level in the world. After the release, the prices were unbearable for the local South Africans. Therefore such researches send up benefitting a few people, failing to be human satisfactory.

Another aspect of human dissatisfactory of economic growth is global warming. Many industries are being set up especially in the developed countries and emerging economies. This development is being done at a faster rate than the environment can handle. This has equally exposed every person on earth to adverse effects environmental degradation. Of more concern is the depletion of the ozone layer. Some regions in the underdeveloped and developing countries are experiencing harsh effects of global warming when they do not hold any responsibility. Take for example the recent famine that occurred in the horn of Africa. That is purely a matter of global warming. I doubt if that region has the number of industries that can qualify to contribute to major environmental pollution, since most of the inhabitants are pastoralists. It is up to the countries which are responsible for the global warming to take appropriate measures that ensure that the innocent people are protected. No matter how they do it, they should do it fast.

It is not human satisfactory when the money circulating in the economy is just distribute among a few people. Even though we appreciate that there are many individual investors who are boosting economic development by investing in various sectors of the economy, it should be scrutinized on how these people are obtaining their trading licenses. Financial ability to invest does not mean that they are the smartest businessmen and corporate figures. It is the presence of corrupt deals in governments and other people in authority that ensure that those people continue being rich. The country’s GDP might reflect as high, but presence of these outliers produces a bid tilt in terms of equitable distribution of wealth. If the right channels are followed in the authorities say in allocating government contracts and business licenses, this vice will be lessened. Ironically, you find that these same investors’ companies are the ones with poor working conditions and deteriorating pay for employees just to ensure that the investors maximize on their profits.

With this, I appreciate once more for allowing me to give my views on some of the aspects of your book.

Yours Sincerely