Shedding light on real problems facing the world

There is nothing artificial Mulayʼs new book ʻEconomic Renaissance in the Age of Artificial Intelligence.ʼHis intelligence is real and it shines forth in this volume, which is actually a collection of essays from experts in various fields. The book sheds light on real problems facing the world in the areas of technology, the environment, law, psychology and above all spirituality.
Once again Apek Mulay establishes his claim as an original thinker and a prolific writer. In2018, he wrote about ʻNewMacroeconomics,ʼ which was a remarkable analysis of global poverty and the economy. This year he has come out with a motley collection of essays that offer penetrating insights in diverse areas. An article from Satinder PaulSingh sets the stage for analyzing the impact of what is known as the Internet of Things (IoT) on the economy. This is followed by a piece from Srinivas Adiki on how the invention of Artificial Intelligence (AI) will shape the future. How the upcoming blockchain technology interacts with the global economy is examined next. These technologies are relatively new and are likely to revolutionize the financial services as described by Shrikant Shete. The book next turns to the environment. In ʻMonsters of our own Makingʼ, Michael McAllum gives us a glimpse of how poor planning of various cities has ravaged the environment and what should be done to counter that destruction in the future. Roar Bjonnes, on the other hand, suggests that pollution is so bad that green technologies alone cannot save the environment. We all have to develop an environmental‑friendly awareness to do the job. Will AI bring about a collaborative or predatory ecosystem has been explored by Stephen Willis? These three papers are superb; they offer a deft analysis of current environmental problems and what needs to be done. At this point, the book turns to an entirely different area that makes a case for universal income. The idea that many experts advocate today is that everyone should be provided with a Universal Basic Income (UBI) to fulfil their minimum needs. While the idea is basically sound, Matt Oppenheim correctly points out that we should make sure that UBI does not create a culture of dependence if the recipients of the UBI simply “hangout” and do nothing useful. As AI becomes commonplace in the future, the global constitutions will have to change to ensure that progress of AI does not harm human well‑being. This idea is ably examined by Craig Runde. Science and Spirituality are normally considered to be poles apart. Steven Richheimer neatly destroys this misconception in his essay, “The New Age of Science and Spirituality.” Next Dr.Shambhushivananda further elaborates on this idea. He has a PhD in economics from the University of Pennsylvania but has become anAvadhuta (monk) to pursue a higher calling. He is amply qualified to write on “Meditation and Consciousness.” His essay is remarkable as it establishes a link among mind, matter and consciousness. Finally, the book turns to purely economic issues and policies. First, Navin Doshi examines the global economy and pinpoints the basic reason for the worldʼseconomic malaise. He complains that the planet saves while America spends, and this is the fundamental problem behind several global imbalances. Second, Apek Mulay, also the editor of this book, offers some original economic ideas with an innovative business model in the era of Artificial Intelligence to solve the problem of poverty around the world. He also examines the Law of Social Cycle which suggests that we are now in the age of acquisitors in which acquisitive mentality rules society. This law suggests that only a revolution can now end this age and bring about a new era of compassion and prosperity in which poverty disappears in America. All in all, this book of essays is worth reading for its varied contributions envisioning Mr Mulayʼsvision about how ProgressiveUtilization Theory can solve the most pressing economic issues faced by mankind.

Batra, R. (2019, April 13-19). Shedding light on real problems facing the world.
The South Asian Times, 25.

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