Have you ever thought about the economic boom and its implications?
To a majority of people who would read this, robust economy would only have a personal meaning - fatter pay packets, more job opportunities, dream about bigger car, next house, next vacation and spending couple of thousands over drinks every week without guilt.
But this individual relation and personalization of the unprecedented growth has a darker side to it, a much darker side.
We all are familiar with the 80/20 rule, which means that the economy grows due to the contribution of 20% of the people as these 20% people consume 80% of the goods. This can be translated in another manner growing economy makes only 20% people richer and leaves the balance 80% people on the fringes and with time poorer.
Why? When the income levels go up the sensitivity towards prices come down and the companies are able to increase prices without losing sales, these include basic necessities.
So child born in the lower middle class will never know the taste of apple, never lick an ice-cream and maybe with time also learn to eat a little less.
No growth in that sense can be exclusive or should be so damn insensitive & one sided. Growth has to be defined by the society, emanate from the needs of the society and not dictated by greed and self preservation.
The growth paeans that we are singing today are nothing but tomfoolery. This growth is meaningless and unsustainable in the larger picture. When I am asking for twenty or thirty or forty lakh salary for selling something which is as superfluous as a soap or a cola or aero-grip high traction aerospace soled shoes, I am also telling someone please go hungry.
Is this the meaning of growth?
You tell me and you tell yourself when that 6 year old little girl gets your scotch glass.
To a majority of people who would read this, robust economy would only have a personal meaning - fatter pay packets, more job opportunities, dream about bigger car, next house, next vacation and spending couple of thousands over drinks every week without guilt.
But this individual relation and personalization of the unprecedented growth has a darker side to it, a much darker side.
We all are familiar with the 80/20 rule, which means that the economy grows due to the contribution of 20% of the people as these 20% people consume 80% of the goods. This can be translated in another manner growing economy makes only 20% people richer and leaves the balance 80% people on the fringes and with time poorer.
Why? When the income levels go up the sensitivity towards prices come down and the companies are able to increase prices without losing sales, these include basic necessities.
So child born in the lower middle class will never know the taste of apple, never lick an ice-cream and maybe with time also learn to eat a little less.
No growth in that sense can be exclusive or should be so damn insensitive & one sided. Growth has to be defined by the society, emanate from the needs of the society and not dictated by greed and self preservation.
The growth paeans that we are singing today are nothing but tomfoolery. This growth is meaningless and unsustainable in the larger picture. When I am asking for twenty or thirty or forty lakh salary for selling something which is as superfluous as a soap or a cola or aero-grip high traction aerospace soled shoes, I am also telling someone please go hungry.
Is this the meaning of growth?
You tell me and you tell yourself when that 6 year old little girl gets your scotch glass.
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1 comment:
A few months ago I got into the habit of buying the occasional bottle of single malt.
So one day, I was at the liquor store, buying a bottle of Glenfiddich when I overheard a whispered conversation between two of the guys who work there.
It seemed that the bottle cost more than what they make in a month.
Scotch doesn't taste as fine anymore.
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