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SWADESHI – self-sufficiency/protectionist policy – will it lead to prosperity and happiness?
Measure of Poverty and Financial security
Herb Guntis notes that societies that use markets extensively develop a culture of co-operation, fairness and respect for the individual arising out of the recognition that their enlightenedself-interest lies in peacefully seeking cooperation. While societies with the least experience of dealing with outsiders become hard-hearted, ungenerous, narrow minded and war like.
As long as innovation is encouraged, economic progress will continue. A high standard of living is ensured when there is diverse consumption from many micro sources that do their best in simplifying production, specializing in what each does best.
Matt Ridley notes that in 2005 an average consumer in U.K. would have spent this share of his income after tax / levy on the following and compares that to that of a farmer in U.K. in 1790’s.
| Items | Average consumer in 2005 | A Farmer in 1790s |
|---|---|---|
| Housing / Roof overhead | 20% | 6% |
| Cars, planes, trains & other transport | 18% | |
| House hold stuff, electricity/fuel, water, phones, furniture, appliances etc. | 16% | 5% – mainly heating |
| Food, drink & restaurants | 14% | 75% |
| Health care | 6% | |
| Movies, music, all entertainments | 5% | |
| Clothing of all kinds including bedding | 4% | 10% |
| Education | 2% | |
| Soaps, haircuts, cosmetics, etc. | 1% | 4% including lighting (lamps/candles) |
| Insurance, pension contributions, including savings etc. | 11% | |
| Reading | 0.3% | |
| Miscellaneous | 2.7% |
You are poor when you cannot afford to sell your time and services for sufficient price to buy the services you need and rich to extent you can afford to buy, not just the services you need but also, those other services you desire.
Do not confuse self-sufficiency with contentment.Self- sufficiency is poverty, accepting lower quality or a lesser quantity of goods and services than you need or desire, as you cannot make for yourself or trade for all that you need. Contentment is richness, as one does not seek or desire anything more than what one already possesses or can procure.