Sustaining Moore's Law
A new book authored by Apek Mulay and published by Morgan & Claypool publishers, “Sustaining Moore's Law: Uncertainty leading to a certainty of IoT Revolution ,” (www.ApekMulay.com), presents free market economic solutions for sustaining the progress of today's knowledge based economy. Moore's Law has provided a predictable business model for the semiconductor manufacturing industry from its inception in 1965 through the end of the millennium. The progress of Moore's Law ensured that the cost of computer memory and computing power declines by 50 percent about every eighteen months and has helped consumers get more powerful tablets, smartphones and other electronic gadgets. This has been possible due to innovations in process improvements resulting in number of transistors to double approximately every eighteen months – an empirical growth of components on an integrated circuit known as Moore's Law.
The Foreword for this book is by world renowned macroeconomist, who has also authored six international best sellers – Professor Ravi Batra. Professor Batra considers the economic solutions presented here to be both monumental and practical to implement. This book is a blueprint for ushering the fourth industrial revolution – The Internet of Things (IoT). As a Tech expert and macroeconomist, Mr. Mulay offers his expertise in correlating the impacts of Moore's Law on the national economy. His message runs counter to the established norms of the U.S. semiconductor industry and its professionals, who tend to believe that it'll be economics that would lead to the demise of Moore's Law. Mr. Mulay believes that without proper economic planning, not only is the future validity of Moore's Law at best uncertain but even the upcoming 4th industrial revolution of The Internet of Things cannot succeed.
In his 2014 publication entitled, “Mass Capitalism: A Blueprint for Economic Revival ,” Mr. Mulay presented solutions to economic problems threatening the United States as well as Global economies having Capitalist systems. In Mass Capitalism, he proposed solutions to help establish a free-market economy in the United States leading the country to a balanced economy, high investments, high growth with an increased motivation for employees to benefit from hard work resulting into a steady growth in the corporate profits.
” 'Mass Capitalism' offers hope for the embattled US economy,” writes Dr. Stanley Wolf, president and founder of Lattice Press, a highly respected publication in the microelectronics industry. “Apek Mulay has seen the negative impacts of offshoring and unequal trade regulations on the microelectronics industry. The solutions he proposes would level the playing field and strengthen the US economy. 'Mass Capitalism' provides his vision for improving our future.” Dr. Ravi Batra, in his 2015 publication, “End Unemployment Now: How to Eliminate Joblessness, Debt and Poverty Despite Congress ,” cites Mr. Mulay's'Mass Capitalism' as 'A Wave of the Future' and the only way to eliminate the problem of poverty and unemployment in America.
Mass Capitalism appeals to classical and neoclassical economists, as well as the entire business community, since the book's thesis supports small government. Neo-Keynesians will appreciate the details acknowledging the importance of low unemployment and the inherent stability in the U.S. economy; my thesis supports wages reflecting worker productivity, resulting in less inequality in the economy,” Mulay says.
“On the other side of the same coin, CEOs of the U.S. microelectronics industry, for example, would like the business model proposed in my book because it ensures a steady growth in corporate profits and, hence, a steady rise in share prices of their corporations. By bringing about an end to the control of businesses by their non-employee investors, the system I propose would put an end to the ballyhoo and hoopla of speculative bubbles, which has been always been followed by an inevitable crash of U.S. stock markets. 'Mass Capitalism' offers a solution for all potential economic ills. It's a blueprint for our economic revival.”
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End Unemployment Now
Ever since the Great Recession that started in 2007, the United States has been mired in poverty, joblessness and a mountain of debt. With Congress and the president constantly at odds, the public is clamoring for a fresh approach to our economic problems, and this book delivers just that. Even the fastest growing economies of India and China have seen a slowdown and the analysis and the solutions offered in this book, while based mostly on American experience, actually apply to the whole world. Salient features of the book are:
The main cause of our myriad troubles is monopoly capitalism, which is a system dominated by giant companies that charge high prices, pay low wages and extract huge productivity from employees. This way supply rises faster than demand and generates layoffs; so the solution lies in breaking up the behemoths and returning to free markets, where small firms engage in price and quality competition. That requires new legislation and the cooperation of Congress, which itself is either divided or beholden to monopoly capitalists. So we can't count on the legislature.
The president can bring about a competitive-capitalism effect, though not actual free markets, without recourse to Congress. A competitive-capitalism effect occurs when, through certain official proclamations or policies, a market arrives at a similar outcome that would prevail in the presence of small firms operating as competitive enterprises. With the help of the agencies such as the FDIC and the CFTC that work for him, the president can bring about this effect in several industries including banking, oil and gasoline, pharmaceuticals as well as foreign trade. The FDIC has the legal authority to create its own bank, known as a bridge bank, which could compete with banking giants and bring down interest rates on credit card balances from the current range of 15 – 30 percent to just 5 percent.
The CFTC can legally raise margin requirements for oil futures to control speculation and bring petrol price down to $20 per barrel from the triple digit levels that prevailed until mid-2014,in spite of a relentless decline in American petroleum imports. In 1998, even a puny fall in these imports brought oil down to just $12 per barrel. The president and the Federal Reserve should and can eliminate our trade deficit by doing what China and Japan do; he can offer an export-oriented exchange rate to raise our exports to the level of our imports, so that we follow a policy of balanced free trade.
The rural areas of emerging economies, such as India, China and Brazil, should use a putting-out system of industrialization that was very effective in eliminating poverty in pre-capitalist Europe and the United States. This system required little investment but quickly uplifted living standards in small towns and remote villages without polluting the environment. With these type of measures, nations can not only get rid of unemployment, but they can also make a big dent in poverty, especially rural poverty. Similarly, consumer and federal debt can also be brought down, even though slowly. Economies can then become self sustaining without the government's life support.
” Batra's cogent inventory of what he sees as the current obstacles to be overcome includes a “Do Nothing” Congress, high unemployment, monopoly capitalism, and stock market bubbles. He finds the cure for these economic ailments in the sectors of banking and finance, oil and gasoline, big pharma, and foreign trade.”- Publishers Weekly
“Batra advocates for the use of the executive branch to adopt and enforce regulations to launch a shift away from corporate domination and toward truly freer markets. Interestingly, he recommends as a model the approach adopted by American occupation authorities in Japan and Germany after World War II .” – Kirkus Reviews
“This book really reads like a suspense novel. The description of the economy the book offers is straightforward, yet profound and easy to grasp at the same time. Its message will have an impact. There is no way around it .” Thorsteinn Thorgeirsson, Senior Advisor to the Governor, Central Bank of Iceland.