I would like to congratulate the Class of 2017…not just in Harvard but in every University across North America. The lucky ones who have found employment and the unlucky ones who are still trying hard to find a Job should have listened to the emotional speech of Facebook founder Mr. Mark Zuckerberg. If you haven’t listened to it, you may view the complete speech below
Although Mr. Zuckerberg raised a great number of good points for the generation as a whole and tried to give them a sense of purpose, I would like to point of a few things which were not addressed correctly by Mr. Zuckerberg. Well, I also believe that the new generation in this world needs a greater purpose and first thing that they need is finding a well paying job to pay off their college student loans.
Now, Let me start by addressing a few myths and then also put forth some facts. Firstly. Climate Change has to do with shifting of the poles of Planet Earth. I don’t believe Installing Solar panels is going to solve that problem. It would add further to economic problems …if those Solar panels are made in third world countries and imported into developed economies. Hence, First myth has been addressed with regards to Climate change and Solar panels.
Now, Regarding volunteering to share the data and human genome and letting the corporate monopolies use this data and make multi-million dollar patented medicines which are not affordable in first place to ordinary citizens is also not ethical business practice. How about the corporations pay well for collecting any data from the fellow citizens instead. Well, If business has to be made from data..let the benefactors of it be the ones who generate this data. This needs fundamental shift towards a stakeholder system rather than monopoly capitalism.
Well, Now coming to letting votes be cast online. I guess rather than worrying about voting process being rigged due to hackers, who can rig the entire democratic process, how about having a democracy test before casting vote as well as making voting in democracy a privilege rather than a fundamental right? If a person cannot pass a democracy test, let s/he not be allowed to vote in the first place so that media bias and fake news cannot bias voters. How to make this process more efficient can be read in an article published on my blog Farce of Political Democracy and vision of Economic Democracy.
It is very true fact that huge inequality is a root cause of coming collapse of monopoly capitalism. Also, I agree that there have to be better metrics of measurement of economic growth rather than measuring it in terms of GDP. How about having measurement of economic growth in terms of Consumer Purchasing Power rather than GDP? When there is an incentive to grow the consumer purchasing power in economy, GDP will be automatically grow in the economy. And tying the growth in wages to productivity will preserve the incentive to work hard as well.
Universal Basic Income (UBI) is not sustainable as it depends of charity of the highest tax payers. Also, It is difficult to have a steady growth in consumer purchasing power in an economy under UBI. This is because, the amount of money that comes for paying UBI…will steadily decrease as the Return on Investments (RoI) starts to steadily decrease with rising unemployment due to Automation and Artificial Intelligence. Hence, Even if Mr. Zuckerberg is willing to pay for the UBI, the process of giving out doles in not sustainable in first place. And hoping that UBI will enhance the entrepreneurial spirit in the economy is just an another myth but it is also foolish. Firstly, For Entrepreneurs to succeed , it needs a good purchasing power for entire society. Only when society has a lot of disposable income can they consider buying things beyond their basic necessities. Hence, instead of UBI, I have proposed an approach of Minimum Necessities and Maximum Amenities which shall not only keep the size of government small and taxes low on all individuals in an economy. But, there would be a steady growth in purchasing power for ALL in the economy.
Just speaking tall talks about affordable healthcare but not putting forth any practical and sustainable way to achieve the same by means of not having healthcare tied to one employer is nothing but a fairy tale. I believe that Harvard’s Class of 2017 should certainly not be pleased listening to such fairy tales on their commencement day. They would have been much better served with a motivating speech as they begin their new journey rather than some emotional speech filled with melodrama and cry. Well, There is an occasion for emotions too…but I don’t believe commencement speech is that good an occasion.
Well, Building local communities needs empowering the local businesses. Hence, The first thing that needs to happen is breaking up the behemoth corporate monopolies. Perhaps, Mark Zuckerberg should also support that this would also need that his own Facebook be restructured as a company so that it could function independently at local level. Well, Just tall talks about building local communities and not supporting practical way to achieve it would be hypocritical for a speaker who quoted in his speech that it is not a battle of nations but a battle of ideas. So, Let actions speak louder than words Mr Zuckerberg !!!
About the author
Apek Mulay is a Business and Technology Consultant at Mulay’s Consultancy Services. He has authored a trilogy in three consecutive years viz. Mass Capitalism: A Blueprint for Economic Revival (2014), Sustaining Moore’s Law: Uncertainty Leading to a Certainty of IoT Revolution (2015) and How the Information Revolution remade Business, and the Economy: A Roadmap for Progress of the Semiconductor Industry with More than Moore and Beyond Moore (2016). His monograph on technology is entitled Improving Reliability of Tungsten Plug Via on an Integrated Circuitry: Process Flow in BiCMOS and CMOS technology with Failure Analysis, Design of Experiments, Statistical Analysis & Wafer Maps (2016). Mulay is author of patent Surface Imaging with Materials Identified by Colors. USCIS honored him with US permanent residency under the category of foreign nationals with extraordinary abilities in science and technologies. He engineer, economist, author, blogger and social entrepreneur in an e-commerce business http://Calcuttahandicraft.in .www.ApekMulay.com