If you don’t know American economist Ravi Batra, do yourself a favor. Read his books and get to know PROUT (PROgressive Utilization Theory). I highly recommend watching the 4-part video, especially part 4. Again, take note that this video was way back in 2007. Batra not only accurately predicted Occupy Wall Street, he even had the balls and foresight to ask everyone to join it!
Batra’s writings should be considered in terms of the philosophy of his mentor, Prabhat Ranjan Sarkar, who has had a profound influence on him. The ideas of Sarkar are in the tradition of Hindu idealism—a cosmology stating that the universe, both inanimate and animate matter, is permeated with a singular consciousness, a living God. The basic premise is that the souls of all life forms have a singular embedded motive over the evolutionary eons, going from birth to death to birth again, to develop their consciousness. Once they reach the level of human reflective consciousness it is their duty to seek to ultimately unite it with the God consciousness. Part and parcel of this view is that humans should regularly practice yogic meditation—ideate on God—and follow an ethical and vegetarian life style. But Sarkar goes further than anyone else in declaring that God realization is easier with full participation in social service. According to this philosophy, Batra rejects the basic foundations of materialist economics, including the need to consume and acquire without limit, as well as the premise that the saving of capitalists promotes the greater good through investment, itself the penultimate justification for allowing inequality to exist. Instead, Batra promotes raising the incomes of people with the sole purpose to increase their consumption, but in a balanced and sustainable way—in harmony with nature, each other and other life forms. An equitable distribution is not seen as a means to only ensure material welfare but also to secure the ability of all to develop a full personality. This is an integral part of Sarkar’s practical theory of PROUT—PROgressive Utilization Theory.
But only time will tell whether Batra is right or wrong. Let’s wait ’till 2016 for the demise of crony capitalism. If and when that happens I hope this guy gets a Nobel Prize and give Krugman a run for his popularity.
I am an economist and historian and made many forecasts in the past about the economy and social change. While 5 percent of my economic forecasts have been wrong, to my knowledge I have never made an error about forecasting a revolution. My latest estimate is that monopoly capitalism will go the way of Soviet communism by 2016.
Now that is my kind of kick-ass economist!
UPDATE: Another case in point why Dr. Ravi Batra is my kind of kick-ass economist. Check out this interview with Dr. Ravi Batra by Thom Hartmann on why the need to rollback Reaganomics.
Hey, maybe this should be one of the top demands of Occupy Wall Street: ROLLBACK REAGANOMICS!
[Thanks! I could use some coffee :) ]