An economic paradox

Tuesday, 21 June 2011 00:49 - - {{hitsCtrl.values.hits}}

IT would be fair to say that more than 99% of the world’s population would want peace, not war. However, increasingly more regions in the world are involved in various wars, from the drugs in Mexico to the borders of Thailand and Cambodia to the Nato attacks in Libya.

The global defence industry is valued at US$ 1.5 trillion per annum and the global media industry is valued at US$ 1.1 trillion. These two industries are major providers of employment and power the economies of many countries, mostly developed nations.

For these two industries to continue at profitable levels, there has to be ongoing excitement! So, to (politically) live “happily ever after” may well be a dream! What will the wake-up call be?