Lateral Thinking: Good, Bad or Ugly!!!

I must confess at the outset that I am a misfit on this blog for this space belongs to Lateral thinkers!

I can hardly think, leave alone do lateral thinking and -writing –well, is restricted to the documentation that one has to do to make a living. So, one could well understand my plight when P&B wanted me to write something.  I had no inkling that grafitti on Boi’s article could land me in this trouble….. Nevertheless, I banish these thoughts and look for subjects to write and……. then enlightenment strikes-One is yet to see something on Lateral Thinkers in this space. Now, absolutely, it would be immodest for a Lateral Thinker to write on himself or on the community or their contributions. No wonder then, this daunting task was left to a Guest faculty (and hence this invitation to a “Buddhu” in the desperate hope that he would take the hint).

The party has ended-as it had to! I remember having a problem of too many job offers in hand when I was out of college (2006). Today, there are hardly any! (2008-09).Various theories have been proposed to explain this, but none have truly gone into the depth or so, I feel.  With due respects to Edward De Bono and P&B, I blame lateral thinking for this downfall…

Before pouncing on me, give me an audience. Banking was boring till the 1980s, till a (some) Lateral Thinker(s) realized the true potential of the concept of securitization which helped them convert their debts into tradeable papers which were then traded in the market. Most of these remained off balance sheet exposure so banks were not manadated to make provisioning for them. This enabled banks to lend to the poor and not credit-worthy (the term coined was sub-prime). This financial innovation (a product of lateral thinking) is now responsible for $ 4 trillion dollars of bad debts in debt which is 4 times the size of Indian economy- and bringing the entire world growth into negative zone. Everyone, other than possibly those Lateral Thinkers, who have pocketed huge Bonuses and must be living comfortable retired lives, and we are now suffering…

Continue reading in the Guest Page

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