Quote - The amount of money a moderately rich person spends in the wedding of his child
is about what a working class man would earn in over 50 to 60 years! un-Quote
Do you know who gets the benefits of this expenditure by the rich ?
It is the people who supply the grocery, pandal, chairs, labourers who
erect the 'shamiana' , people who staff the food stalls, band players,
flower suppliers, workers of the fire cracker factories etc.
All are from the lowers strata of the society. Such ceremonies are
good opportunities for them to earn money and support their family's
basic needs. If rich do not spend the money they have, many poor
families depending on their spending will suffer.
And what the working class person gain or lose if the money is spent
or not ? What he earns in 50-60 years and what the rich spend has
only jealousy factor and no other relation.
It is interesting to note here that people prefer to earn Rs. 60,000/-
when their neighbours are earning around Rs. 50,000/- rather than
earn Rs. 70,000/- when their neighbours are earning Rs. 80,000/-.
Poverty is a relative term and one actually does not suffer even if rich
are becoming rich. Inequality is only in your head.
Sanjeev
From: "ANISUR RAHMAN anisur.rahman1@btinternet.com [mukto-mona]" <mukto-mona@yahoogroups.com>
To: mukto-mona@yahoogroups.com
Sent: Sunday, 24 July 2016 2:25 PM
Subject: Re: [mukto-mona] Indian Millionaires Now Worth $1.5 Trillion And Rising
India follows a brand of unregulated, raw capitalism that even surpasses American capitalism. But, at least, India has the freedom of press and democratic institutions (with corruption) and hence people can protest, shout and scream against such disgraceful capitalism. In response to that, some amount of poverty alleviation measure does take place from time to time.
But in Bangladesh with equally raw, unregulated capitalism and no democratic institutions and no freedom of press, conditions are far worse. Yes, economic growth has taken place in Bangladesh. Rich is getting richer. The amount of money a moderately rich person spends in the wedding of his child is about what a working class man would earn in over 50 to 60 years!
I had been saying and writing columns for more than a decade now that despite Bangladesh's all the ills (and there are many ills) the best thing that had happened to Bangladesh is that it has come out of Pakistan. So, for you to tell me now to look at Pakistan to find out what can go wrong is disgraceful.
- AR
On Saturday, 23 July 2016, 22:49, "Jiten Roy jnrsr53@yahoo.com [mukto-mona]" <mukto-mona@yahoogroups.com> wrote:
Yes, Indian economic progress is impressive, but, not equitably distributed right now. Also, it's the initial phase of growth in India, and, in my view, it should be left alone at this stage. If government starts distribution of wealth at this stage, it will surely decelerate the growth, and could even nip the growth in the bud.
So, I say, let it grow freely for a while until it matures, and then think about distribution of wealth.
It's surely comforting to see an economy at our backyard finally competing with the economy of the developed world. Hope, Bangladesh can learn and benefit from it.
I am sure, Bangladesh could have done the same, if not better, by now had there been vibrant secular democracy, and the country was free from the international Islamic theocratic conspiracy. Such conspiracy has been a drag on the economic growth, and it's so strong right now that I cannot be hopeful about the future of that country any longer. If you disagree with me, just look at the neighboring Pakistan.
Jiten Roy
From: "ANISUR RAHMAN anisur.rahman1@btinternet.com [mukto-mona]" <mukto-mona@yahoogroups.com>
To: mukto-mona@yahoogroups.com
Sent: Saturday, July 23, 2016 4:17 PM
Subject: Re: [mukto-mona] Indian Millionaires Now Worth $1.5 Trillion And Rising
One may cite the above statistic with a sense of pride that, whereas in the rest of the world the net worth of millionaires had come down or increased very slightly, in India it had gone up by more than 60% and the number of millionaires had gone up by 55%. It is a matter of total shame for India. It only shows how unequal the Indian society is. Millionaires comprising 0.02% live in super luxury, whereas nearly 35% of the population live below the poverty line. If just 10% of the millionaires wealth ($1.7 trillion) is taken from them in the form of tax, then the Indian government can do tremendous amount of development work with this $170 billion to alleviate poverty, national reconstruction etc. Prof. Amartya Sen had repeatedly pointed out for a long time that Indian society is disgracefully unequal.
- AR
On Saturday, 23 July 2016, 19:01, "Jiten Roy jnrsr53@yahoo.com [mukto-mona]" <mukto-mona@yahoogroups.com> wrote:
http://www.forbes.com/sites/ranisingh/2016/07/22/indian-millionaires-worth-1-5-trillion-numbers-up-55-in-less-than-a-decade/3/#6f07482d4e02
Indian Millionaires Now Worth $1.5 Trillion And Rising
Forbes Fri, Jul 22 7:12 AM PDT
Like
A new study found that Indian High Net Worth numbers increased by 55% from 152,000 in 2007 to 236,000 High Net Worth Individuals in 2015. Their combined wealth rose by 67%, from $0.9 trillion in 2007 to $1.5 trillion in 2015. New World Wealth, a regular source of data and insight for these columns, has just come up with new research conducted over eight years. It started in 2007, just before the global financial crisis, and finished in 2015, when most countries were experiencing negative or negligible growth. "Millionaires" or "HNWIs," High Net Worth Individuals" refer to individuals with net assets of a million or more dollars. The study found that growth was positively impacted by local construction, ...
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Posted by: sanjeev kulkarni <jeevkulkarni@yahoo.com>
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