It’s in the papers – the Chennai release of The Hindu, that is. Cooum river, an overflow channel in the incessant ‘winter rains’, but in any other case an open up a conduit for untreated sewage that drains through garbage dumps on its banking institutions, is in news… back. Surprise, surprise, for the same reason again! The Cooum is but one example of the environmental and social externalities engendered by the Nominal financial paradigm. You may wonder what factors cause such degradation of rivers that could, as well just, be lined by prime economic property if they were to flow in their pristine state.
The answers are manifold. Environmental and equity functions are, evidently, ill-discharged by Nominal governments that collude with operate and ZS-Capitalists in the contrary of the indigent, if not the Public. The competitive nominal overall economy, perversely, rewards those suppliers who cut cultural and environmental costs, and rivers, due to their inter-jurisdictional expanse, are natural sinks under such mal-incentives.
Small precincts do not have the scale (or the populace density) to invest in large-, fixed-cost investments in sewage network, disposal, and treatment. Other precincts lack the administrative mechanism (or, political intent) to create STPs. Yet others might, but corruption along the administrative system delays, if not stymies, public work.
- Accrued interest payables (for short-term and long-term securities) and account payables
- I need to buy a set back India for my parents
- Taxes take a big bite out of performance
- Interest Checking Accounts
- Not understanding financial management of property
- 15000 in decimal would be 15000
- Hard working 3) disciplined 4) psychologically tough
- Printing Supplies
Elsewhere, Commercial and commercial establishments, that sprout haphazardly, have the means neither, nor the purpose to mitigate or treat their environmental releases. Compounding these mal-incentives, residences, and commercial/commercial facilities are occasionally built without permits, authorizations, or operate without proper commercial licenses and environmental permits. Inadequate funding and staffing (not unintentional), distributed administrative controls (or, overlapping/undefined control/property rights) over the Commons further obfuscates the issue, constraining the nationwide government equipment from addressing externalities triggered by entities that, lawfully, do not exist or operate. In such context, the discharge of untreated sewage and commercial effluents, or downstream upstream, further mis-incentivizes actions, and allocations in other precincts along the river.
Each precinct blames others – a perfect reason for politicians and officials of the neighborhood governments, State, even national institutions, to shy from their responsibilities, and enrich privately of their inaction. Such incentives are exacerbated when erring entities belong to further and are ‘sponsored’ by the Government Opposite, GO, a constituency that de-facto serves as a Suppress group for the Nominal Privates to enrich off under a multi-party democracy. The final results are too obvious – an exacerbation of the SESH violations that often focus on the marginalized poor, those in the hinterlands, and the discriminated minorities.
More significantly, the nagging problem in the same way economists would forecast, perpetuates until the media, under international pressure and simmering discontent of the voting public perhaps, is constrained to survey onto it despite politics discussions. Forum is just one, a good smaller example of the malaise that underlies pollution of water and streams bodies in India.
Now, I could write about enhanced budgetary allocations, improved administrator oversight, monitoring, and enforcement by the specified institutions of the Government, but I wouldn’t have your focus on this blog any further. Instead, I broach an unconventional, out-of-the-box, interim, albeit a generic proposal that has half as good the opportunity as any that is implemented to address externalities (or shelved) over the decades of mis-governance.
The GO recommends itself for various reasons like the reality the Nominal Government oftentimes restricts its economic interest to populous towns and larger cities, ignoring the huge attributes in betwixt. Given the size of the GO Constituency, the magnitude of its Gold reserves, and the temporal and spatial domains of its Cause, it is advisable to vest Insurance Houses with the administration of the GO Cause Bond.
Insurance Houses that provide private insurance to the Nominal overall economy and take part in the public nominal bond marketplaces, would also privately administer the GO Social Cause Bond through entities of the Local Government and the NGOs. One might wonder whether the Insurance Houses have the appropriate incentives to act in the interests of the GO Community.