INDIAN BRAND OF CAPITALIST GROWTH

INDIAN BRAND OF CAPITALIST GROWTH

When Bill gates became superrich the US became leader in computer tech, when Bezos became super rich the US became leader in retail, when Musk became super rich the US became leader in electric cars and commercial space industry, when Zuckerberg became super rich the US became leader in the digital media and opinion formation industey, when Larry Page became super rich the US ruled  the field of internet  . We may ask what  could  India become when Ambani and Adani became super rich? Answer to this question reveals that not capitalism but it's crony capitalism which is villain,  which is detrimental to the public good, to the  public shared interest and to the national interest. Just try to go deep into the answer and  you get a lot of facts  about the working of Indian brand of capitalism.                         Capitalism , besides other things essentially needs growth of ideas and innovations . Ideas and innovations are borne to free and uninterrupted discussions and debates. Free discussions and debates are possible in the settings provided by the   democracy. Till now we have no alternative system other than democracy which encourages individual's ability by way of promoting individual freedom and free speech and these settings of democracy come from the idea of dignity and justice which are inseparable rights of all individuals. All these lead us to the foregone  conclusion that when we have rule of democracy which values our individual's freedom, dignity and justice and which is accountable to us we as individual also reciprocate and our minds become activated to find some more new ideas and innovations . These innovations provide us an edge. But when we have crony capitalism our democracy becomes answerable to a few oligarchs and common people who are repository of ideas are forced to live in plutocracy. Let's us find, although Ambani and Adani are moving ahead have we enough resources , leisure, facilities, income, education , health, dignity and justice to find new ideas and innovations?
      One other difference is that when Europe and the  US started witnessing increase in no of the Super rich their country  also started getting more wealth. Despite increase in richness  general inequality has also been  increasing  but this phenomenon never pushed the process of pauperization of those who were at the margin. Of course general public didn't started getting as much wealth as the super rich but the general public either did not become poorer in the process. And at the same time the country also became richer. But here in India we witness just opposite trend. Here the  increase in the no of super rich has been marked by the simultaneous increase in the number of people who were thrown into poverty from their status of lower middle and middle class. At the same time this has been coupled with rise in absolute no of poor people. And last but not least increase in the  richness of super rich has never been reflected in the growth of overall wealth of the nation. Rather the overall growth rate of the country has been much less than the rate of growth of the super rich. And this was made possible by a crony capitalism of the New India. And this crony capitalism, though present from the very beginning has got an impetuous only under the present govt which believed in the policy of  preferential treatment in favour of the govt friendly capitalists at the cost of general public.

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