Let us look at the people of India with empathy and try to understand the conditions there
Tuesday, 4 June 2013
What is wealth of a nation? It is the people. Notion of wealth is explained by economists as GNP(Gross National Product) or GDP. We really cannot explain our economy in terms of GDP or compare it with other economies. There is a social input to our economy which we have always overlooked. People of India work extra hard and we have no justice in distribution of our resources.Social wealth may be made of capital assets, human capital, or natural capital (like soil or ecosystem). But the muscle power which is input of hard working humans is never measured. In other words, people's hard work is not given the value it deserves.The poor people give in more and take very little as wages. No calculation of "minimum wages" or "real wages" can truly weigh the human content of our hard labour. When the human body is given insufficient nourishment but is extracted with more labour,it gives in quickly. Workers die early. This has genetic repercussions.... generations which live shorter lives.Human bodies cannot be made to work like machines. They give up early in life..middle age deaths. It is all gain gain for the employer(or government) for there is no need to pay old age pensions, when there is going to be no old age.It is this aspect of human resource which is fueling growth. How long can this go on? Sooner or later "free labour " will be absent. There won't be a population which can go on and on providing free exploitable labour.Before the next generation of labour is brought about, the first generation dies off. Then what? The poor have no say in political decisions or economic policies...they are voiceless victims....not living long enough to know the truths.......