Highlights

Today greater wealth continues to be created by Entrepreneurs who take risks and often fail and try again. – Failure should be seen as gaining experience and venture capitalists should be encouraged to fund entrepreneurship. – Well regulated and structured Financial Institutional Funds could encourage people to participate in equity markets and share equitably in the growth of such ‘New’ wealth.

Quotations for Consideration

• “I would rather see Finance less proud and Industry more content” – Winston Churchill as Chancellor of the Exchequer 1924 to 1929.
• “It has been usual to think of the accumulated wealth of the world as having been painfully built-up out of that voluntary abstinence of individuals from the immediate enjoyment of consumption which we call ‘THRIFT’. But it should be obvious that mere abstinence is not enough by itself to build ‘Cities or drain Fens’ – so what has actually done the trick and created the wealth of Nations- It is ‘ENTERPRISE’ which builds and improves the world’s possessions. If enterprise is afoot, wealth accumulates whatever may be happening to ‘thrift’; and if enterprise is asleep, wealth decays whatever ‘thrift’ may be doing.” – John Maynard Keynes.

Distinguishing ‘thrift’ which is essentially only saving while waiting with hope for an opportunity for profitable expenditure in future, from the real motor of economic growth, which is investment / enterprise NOW.

• “The inherent vice of capitalism is the unequal share of the blessings. The inherent blessing of socialism is the unequal sharing of misery.” – Winston Churchill.

Distinguishing Market Economics from Capitalism will ensure greater innovation/’Jugaad’ and more equitable sharing of wealth. employment

• “The best way to predict the future is to invent it.” – Alan Kay

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