Background

1.Wealth – understanding it

In 1985 the world wealth was about US$12 Trillion against world asset / resources value (all resources) of also, about US$12 Trillion.

By 2000 the world’s asset value remained at around US$12 Trillion (n 1985 dollar value) allowing for new discoveries replacing used resources, while the total wealth grew to US$200 Trillion, an over 16 times multiple. Most of such wealth comes from knowledge and skills which remains with the people and cannot be confiscated or usurped. Employees in such fields are competent to negotiate for themselves and don’t need any Union to collect fees to argue for them. The real assets of the Companies in such fields go home in the heads of their Employees each night and the Companies can only hope they return the next day. In such merit / performance based organizations, it is only the incapable / incompetent who seek Non Functional Upgrades (NFU) and protection from being fired, as is being allowed in public sector and Government jobs.

The backing for the currency is now no longer limited to only tangible assets. The distribution of such wealth was no longer a zero sum game, the intangible assets added enormous value to the expanding services sector and to resources now being utilized in ever smaller quantities to generate ever increasing wealth.

This growth came from the digital and ideas / knowledge world and was mainly reflected in the Equity markets. Those not in the equity markets did not get to share in this growth of wealth, as it is obvious that if you are not in the queue, you don’t get the benefits.

To ensure that all Indians do get into the equity markets and hence, share in the growth of wealth, we need to encourage the equity culture. Ofcourse, not everyone can deal with the equity market by themselves. Hence, the need for the Government to set up, or encourage the setting up of appropriate Financial Institutions (FI’s) in each important sector and ensure their proper regulation and encourage everyone to enter the equity market through such FI’s. Even then some sections of the Society will not be able to even reach the first rung of the ladder to join such FI’s and will therefore require an assist, a onetime head start to do so.(See-‘Garibi Hatao’ &’ ‘Agricultural Reforms’- ‘Krishi Jagruthi’).

2. Dignity of Protest and calling for support

In the old days, the Kings / Rajas in India, were not like those in the other countries who were despots, here they were seen, and also, saw themselves, as upholders of Dharma and as caretakers of their populace. The invaders brought in a change as they ruled as they had done in their own regions, as despots who saw their subjects more as serfs, dependent on their benevolence, if any.

The British were no different. In fact their avowed aim was to break-up the established Indian Society and remake it to suit them, so as to better control / rule India and bring the illiterate and poorer sections of the people into their fold and to, better enable them to loot the wealth of India. They introduced the word ‘Dalits’ to call people of such sections by and worked at encouraging such people to see them as the real benefactors and granters of largesse and therefore to come to them, not claiming, but begging for support. After all they sought to educate only peons and clerks.

This has over the centuries resulted in the people becoming dependent on such so-called benefactors, thus developing an attitude of seeing the British as their ‘Mai-Baap’. The politicians and governments since Independence (mainly Congress) have, for their own political benefit, continued to encourage a similar attitude in the Public. We today, must get our people to see the Politicians and the Government, not as any ‘Mai Baap’, but as their Representatives and Service providers and, in case of hardship, as their Caretakers

Our Farmers and workers are not beggars, asking for handouts / subsidies and loan waivers, they are hard-working contributors to our Country and expect to be treated with dignity even as they are protesting against the system that responds only symptomatically and not holistically and does not provide effective and long term solutions to their problems.

As Devdutt Pattanaik notes – Charity that makes the receiver dependent (Bhiksha) is frowned upon, (except for religious bhikshus). Whereas charity that makes the receiver independent (Daan) is advocated. The idea that there is ‘No free lunch’ should be recognized and the concept of ‘Kar-Seva’ encouraged.

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