Fault Lines: Todays Spark, Tomorrows Inferno

Abstract

“A Spark Neglected Burns the Houseâ€, a well-known story authored by a legendary writer, Leo Tolstoy, wherein a trifle between the two families, who once happened to be close and friendly neighbors became strong enemies is the trigger for writing this article. As this article tries to bring to the forefront the spark that is deliberately ignited by some galaxy of experts, which later takes the shape of conflagration, thereby engulfing not only one economy but almost the whole globe. But let us first have a brief understanding of the story.  The tale is all about a trifle which later took the shape of a battle started by a so-called silly mistake committed by a hen, that belonged to Ivan’s daughter-in-law, who lay eggs in Gabriel’s compound and later when Ivan’s daughter-in-law inquires about the same, Gabriel’s mother declined to accept this fact and so the quarrel which began as a spark burned the long-standing relationship between the two families. The argument of minuscule scale which could have been controlled in an amicable manner became an inferno due to the conscious ignoring of the issue. Here our ignorant friend, the hen was responsible for this problem, but who should be blamed for various financial disasters that took place at the micro or macro level? In the majority of the cases, we can see that the trigger for such fiascos is the great minds, who are actively engaged in the formulation of plans, policies, strategies, financial and economic models, etc. Now a question that emerges is that if so-called experts are so excellent in devising efficient business or economic models, then why we had to witness Asian Financial Crisis, Dot Com Crisis, Global Economic Crisis, Eurozone Crisis and other crisis?