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ASIM BORAL.

SONGSOPTOK THE WRITERS BLOG | 7/10/2014 |

FUTURE LIES IN WELFARE ECONOMY.





Those who will follow welfare economy will be superpower .India and China having more than 1 billion populations will be front runner but India have edge against China because china follow autocratic rule but India follow democracy .Superpower means super economy with demand supply matching .More human development means more purchasing power more demand in products -more products means more Industries -more employment more supply of currencies -more healthy people more education .This is welfare economy .US/UK follow capitalist economy and capitalist economy depends on war business -more armament -more soldier -more establishment expenses .Capitalist economy survived till 2008 US recession and now US /UK are needing emerging economy like BRICKS countries for greater and broader market force .Till 2008 G-8 were ruling entire world by rolling their currencies by giving loan to 127 countries including India ,Russia,Brazil ,South Africa ,China (BRICKS) and virtually blocked the development of these countries .India became self reliant long back after 1991 economic liberalization made by Late PM P .V .NARASIMHA RAO and Dr MANMOHAN SINGH the then FM and erstwhile  PM of India .India is now giving loan of 5 billion dollar to USA now .Capitalist economy always prone to breakdown to recession as it happened to USA in 1929 great depression because USA never did inclusive development of her country .America once had more poverty stricken homeless people than India and still USA is suffering more economically sick people than even African Hungry countries like Rwanda ,Somalia Congo .It is because capitalist economy breed more rich than perhaps have nots .Today Detroit in USA once a hub of car manufacturing company in the world is suffering huge recession .People are struggling to live with huge debt each and every individual including Industries bearing .So future lies on Economy with social face theorized by Nobel Laureate Economists Indian American Dr Amartya Sen .He made this theory in 1956 after observing personally one of the worst man made Bengal famine in 1943 in which more than 2 crore people were perished to hunger .

Some times back in a news item in some TV channel and subsequent Newspaper  I was surprised to see a news item in which Mukesh Ambani of Reliance Industries giving lecture on youths to drive next generation Industrial and social development without giving any details as how many youths were given employments in their Organizations so far since 1991 economic liberalization 

Quality corporate entrepreneurial model in India is absent and India and Indian political establishment mostly rely on those age old entrepreneur who create wealth for them and their family only and never share their profit with the employee and always give wrong suggestions to Govt for spreading their business Model as the only creator of employment and Govt 's Planners economists get fooled and puzzled and being arm chair Bureaucrat and economists suggest their business model as the best in the world and proved their point of view by the presence of these Businessmen even in other countries in the world . Ambanis Adanis Mittals ,Goenkas are some of these oldest so called great Companies are the models of creating huge wealth for their 14 generations only and maintained below par work culture of modern Business entrepreneurial Model which has redefined the latest trend of creating and sharing wealth but not accumulating wealth for their own and their family . These business houses flourished manifold after 1991 economic liberalization and even spreaded their business emperor to worldwide countries but never created huge employments for youths .

But after 1991 economic liberalization there are few great entrepreneurs also came like Narayana Murthy ,Azim Premji ,Shiv Nadar ,Phaneesh Murthy ,Ramalinga Raju who took full advantage of economic liberalizations and created huge wealth for their Organizations and shared wealth with their employee by giving Companies Shares and profits without accumulating huge wealth for them and their family and regarding creating employment perhaps they are best in the world at the moment and have exposure of more than 100 billion dollar exports earnings for India amongst them perhaps Ambani Model will commit suicide if they know how many people are employed by Murthy Models of Business . It is estimated that more than 50 lakh people are engaged in their Company compare to all family oriented Ambani Model where only 2 to 3 lakh people are employed.

Our planners -economists working in Govt in future must encourage Murthy Model of Business more than Ambani Model as creator of wealth and employment perhaps India need to take lessons from Bill Gates Warren Buffett ,Steve Jobs ,Narayan Murthy for building developed country in the world .With more presence of Ambani Models India cannot shine as most advance country in the world as India has her own human resource of 1.2 billion people as the main strength .
So future of India rely on social welfare economy but never capitalist economy 

 
 
Ahmedabad.




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