Goodbye to Ideologies

   It is really biting, major economies are crumbling  and major industries  financial and industrial institutions are also crumbling. There is joblessness as a lot of people have already lost their jobs and many more jobs may be lost, everyway there is serious struggle for survival. Governments have intervened in different ways like creating a stimulus package Regional economic organizations have also strategize to avoid the pending total economic gloom.

  Presently no economy could be said to be totally free from the economic down-turn all is needed is how to recover from the economic down-turn.

  In a recent summit in London leaders from the group of 20 industrial and developing countries promised over one trillion  U.S dollars for lending to poorer countries.They also vowed major efforts to clean up banks tattered balance sheets, get credit flowing again, shut down global tax heavens and tighten regulation over hedge funds and other financial high-flyers in the U.S. and elsewhere.

   Reacting to the resolutions by the group of twenty,Venezuelan President Hugo Chavez said: “It is impossible that capitalism can regulate the monster that is the world financial system,it is impossible.Capitalism needs to go down.It has to end.And we must take a transitional road to a new model that we call socialism”.In a flashback  we can recall that former U.S.President George Bush  while in the White House had been saying repeatedly that  socialism or communism cannot compete favourably with the ideals of democracy, capitalism or free market economy.But what does the world need is it a debate on which system is better or how to avoid the total grounding of the economies?

  As the global economic crisis is biting hard on major ecnonomies it is pertinent and glaring that all efforts should be on how to recover from the down –turn and not to  indoctrinate any group with any brand of  economic or political ideology.

  Though there are a lot of regulations and regulatory bodies regulating the economies and economic institutions, the global economic down-turn has turn the world into one big jungle of economic survival ,they are no rigid rules, all the legally accepted rules are applied as far as there will be a turn-around in the economies.For now at lest temporally,it is goodbye  to ideologies after all, these ideologies are not new,they existed before we experienced the economic and financial crisis.

    This is no time for ideologies ,doctrines or dogmas. The world needs economic and financial well-being and not hardcore theories and rigid ideologies. The group of twenty should not only stop on talking the talk about economic recovery and lending to poorer countries they should settle down and walk the walk.