Mansoor Khan sees world economic bubble, but not quite a Qayamat
Khan, who studied at IIT, Mumbai, Cornell and the Massachusetts Insitute of Technology – but never completed a course in any of these prestigious institutes – is a maverick with a mission in his book that was launched in the capital last week.india Updated: Oct 22, 2013 11:00 IST
He shot to fame as the director of Qayamat Se Qayamat Tak in 1988, but Mansoor Khan is now busy trying to save the world from what he sees is possible destruction wrought by modern economics and reckless use of energy with a book that challenges or upturns many prevalent ideas on the world economy.
The 55-year-old says rampant oil-drilling has reached its peak and the world is staring into troubles that need to be addressed.
Khan, who studied at IIT, Mumbai, Cornell and the Massachusetts Insitute of Technology – but never completed a course in any of these prestigious institutes – is a maverick with a mission in his book that was launched in the capital last week.
After directing three more movies following QSQT, including the hit Jo Jeeta Wahi Sikandar (1992) and the moderately successful Akele Hum Akele Tum (1995) and Josh (2000), Khan, son of celebrated filmmaker Nasir Husain and cousin and cinematic mentor of Aamir Khan, disappeared to the hills of Coonoor in Tamil Nadu to start an ecological tourism resort and make organic cheese with his wife Tina.
And he seems to advocate the green life he lives with the self-published, controversial book, “The Third Curve”.
He told HT in an interview that the idea of endless monetary growth that he calls Perpetual Exponential Quantitative Growth (PEQG) is running out, because the earth’s capacity to produce energy is limited.
“Your concept of exponential growth of money is out of sync with any reality,” Khan said. ““Everything is premised on oil. What we need is energetics, which studies energy, not economics.”
Khan refers to as the First Curve the seemingly endless growth phase called the “Paradise Times” (which lasted more than a century until the 1960s) and then the second curve as the bell-shaped curve that shows a decrease in the earth’s capacity to yield energy based on fossil fuels after a peak period.
The book is based on the idea of Peak Oil – the engineering capacity to extract the maximum crude oil that the earth can produce in a year, which was reached in 2005. This marks a decline that is a reality check on the world economy, and can be linked to the financial bubble that hit Wall Street in 2008, Khan says. After Peak Oil, there is an inevitable decline in the global economy, he says.
“The world of business an finance particularly needs to be aware of Peak Oil, because the 2008 collapse of the global financial system was the direct consequence of ignoring the Earth’s key and most precious resource,” the book argues – emphasizing that 86% of the energy that runs industries today comes from fossil fuels.
All that sounds a lot like a Doomsay theory – which is what Qayamat means in Urdu. But Khan refutes such talk
“Is being realistic Doosmsday?