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The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos ReviewRavi Batra is still at it, almost three decades since he penned the classic "The Downfall of Capitalism and Communism: A New Study of History". We have come a long way with this author since then and never been bored. Batra's thesis is that we have entered the era of financial capitalism, the last stage of the Age of Acquisitors, where an increasingly uneven distribution of wealth feeds into increasing financial leverage and speculation, until the system can't handle it anymore and collapses. Following the collapse is financial destitution of many and social chaos. Such an outcome is still the most potent form of criticism of Capitalism. If Batra is at some point proved right thata) the Great Depression of the 1930s was no fluke and
b) that innovations and safeguards to our financial system adopted since then cannot prevent another meltdown,
then that is a major an indictment of our form of social organization and, ultimately, our way of life.
At the heart of Batra's writings are the ideas of his mentor P.R. Sarkar. Batra has done more than anyone to publicize the message of this giant of modern day Indian thought in the West. This book is yet another installation into that body of work. While the message may no longer be as novel or fresh as it was in the 1980s, his work now builds on three decades of experience, including a multitude of accurate predictions (although the most important one has so far been a spectacular failure - the Great Depression of 1990!). He is now more circumspect about such things, including the adoption of a fiat monetary system in the 1970s and how monetary policy has been successfully used to forestall a major crash. In one sense he is quite correct, our monetary and financial system is an ongoing social experiment. Batra's work is, if anything, a reminder that we take a lot of things for granted. It is healthy to consider the alternatives, such as if the systemic stability were to give way to catastrophe. Central banks all over the world now devote considerable resources into researching this question and government surveillance of the financial market is now commonplace with stock markets all over the world soaring. Interestingly, all of that, albeit important, is not really the key focus of his work. As the name of his new book suggests, it is the glorious new dawn of a world based on the sentient philosophy of his mentor that is his main message.
Time will tell if Batra and the ideas he promotes are the real deal. So far, he has yet to prove the worth of these ideas with his major prediction. However, he has offered many novel insights into how modern capitalism works. For instance, in the 1980s he was one of the first to talk about how the financial sector was becoming the key to social developments in the West. Today, we take such insights for granted. Overall, the ideas he is describing are more than worthy of our careful consideration. Let us also not forget that he made a prediction in the book mentioned above in 1978 that Communism would fall. It did. As is the norm for him, the book is exceedingly well written and the message as fascinating as ever. Batra tends to be a few steps ahead of the rest of us, even if it sometimes looks as if he going down the wrong path. Even if he has made a big misstep, in my opinion, he is still headed in the right direction. The ideas are serious and profound and also filled with hope. The book is highly recommended for the intellectually curious or those scoping about for a more meaningful approach to life than what the real world has on offer in the early 21th century.The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos Overview
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