Modern Economies flooded with Assets – Prof.Chandrasekhar, J N U.


               Marx framed the elements of Das Capital from the traditions of French socialism, German philosophy, and English political economy.  But it was in England that he saw the classical ground for capitalism.

Marx had weaved into his analysis three tendencies that made capitalism.  The first was the logic of accumulation  under capitalism that resulted in rapid development of the forces of production and brought it into conflict with the social relations of production.  The second was the conflict between capital and labour, and the third was the inevitability of crisis under accumulation.

Classical political economy, in view of Marx, belonged to a period in which class struggle in capitalism was yet underdeveloped.  The weakness of that struggle gave the still-nascent bourgeois political economy its scientific perspective.

Finance today is very different from times in which Marx wrote Das Capital with credit assets forming the main form of financial assets and banking the overwhelming dominant financial activity.  Finance, insurance and real estate accounted for high shares of total value added n the U.K., U.S  and Germany.

Modern economies seem to be flooded with assets that would qualify as fictitious capital in the view of Marx.

Leaders should develop digital Intelligence

                                                                                          – Praveen Rawal, MD, Steel case India

In the economic environment prevailing today, leaders need to manage large numbers of internal and external relationships, maintain visibility within a net work of people and loster creativity and innovation.  To be able to meet the newer demands of their job, leaders cannot stick to the old top-down style of management.  An alarming numbers of leaders lack a meaningful connection not only with their employees, but also with their executive peer group.  Without these interactions, leaders cannot develop broad organizational intelligence. 

The greater challenge for leaders in the future would be establish in a connection with teams distributed across the globe.  Fifty six percent of the senior leaders in Fortune 500 and large global companies expect virtual teaming to increase in the next one to three years.  Engaging globally distributed teams adds to the demand on an executive’s time.  Leaders should develop digital intelligence to be able to connect effectively with these teams. 


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