First understand the history …… to reinvent

Unless we understand the history is no use. 

• TT Ram Mohan says "There is talk now, as in previous economic crises, of having to reinvent capitalism. What this generally means is that we need to redefine the roles of state and market. But there are people who think this is not enough. The time may also have come to remake key institutions of capitalism".  
  
• And C. Gopinath says "It is time we gave up all the terms like capitalism, socialism, free trade, privatisation, nationalisation, and so on. They carry too much baggage and mean different things to different people. Let's start afresh!" 
  

Both are more or less similar line including their management profession. But what is the other alternative? after all these many “ism” prevail for a while. If they try...... actually they can’t without understanding history.