On present system of Economy in US-my comments in NYTimes.

The fact that the style of Economy hitherto followed by the US (let us not go by names yet), has been found wanting in that the system is showing signs of problems it seems not capable of handling..There is slump in Demand,you announce fiscal stimulii. demand does not pick up,deflation starts.Lower profitability, loss, closure of companies, loss of jobs.From the economic one , the problem has become a social one(though both can not be separated).
The day when the Govt. decides to go in for stakes in Private enterprises, it no longer is called a free market economy.Ultimately, this is what free market economy has so far ignored-any economic accrual must ensure that there is distribution of it among the society.This has not been felt in the US till now.Now that the jobs are being lost, people are questioning even the salaries of CEOs , which was unthinkable till a few years ago, as people were convinvced that a man earns in commensuration with his skillset and hard work..When people lose jobs, for no known fault of theirs, they question the earnings of others in the system.That is how and why the present reaction in the society and that is how the problem has moved into the social realm.
Nor the Economic model pratised by USSR seems to have worked either.; the end results have been the same;USSR’s disintegrtation has this as a major reason ,because, they concentrated in distributing wealth instead of creating them, while in the US system, wealth was created without distributing.Both lead to social unrest.
The 30% undecided’s reflect the thinking that both freemarket and communist economic models have not been found to be delivering the goods.
India chose a midway-joint sector,where state participation was resorted to in core and essential services/goods, reasonable distribution of wealth was attempted..Priority was given to Agriculture, Manufacturing..This has helped the economy grow.Now India is slowly switching to US freemarket model,without abandoning distribution of wealth (under manageable proportions).As of now, this seems to be paying off..Nobody knows what is in store in the future.
Both free market Keynesian economic model and that of Marx and Engels have not delivered.Time to try new models to get out of the impasse.

— S.V.Ramanan
--