Friday, September 10, 2010
Stray thoughts about worldly ways
We have been somewhat okay when substantial parts of the developed world were flapping their hands in recession. And this included the US and the UK.
Countries like India, China etc were having a good time amidst the woes of the West. Did anyone think about the systemic problems?
In developed countries, the governments have to dole out a huge amount to take care of welfare measures.
A lot of families go on living on welfare payments as they don’t have jobs. For them, it is not essential that jobs are there for the asking, for the welfare schemes and cash payments for various activities would be sufficient for a decent living in their own currencies.
Compare this to the situation in countries like India where the economy was thrown open wide, but the governments have not announced parallel measures like the ones existing in capitalist countries for total welfare.
We have announced manual labour jobs for up to 100 days a year at Rs 65 or so, may be Rs 100 in certain states. Even this has not been implemented in full. Still, to the extent the project was implemented in certain states, this was something like a boon.
Compare the situation to the opening up of the economy for two G, three G etc, oil sector, and anything for certain people to mint money, that is in unimaginable proportions.
Our billionaires are not prepared to give anything substantially to charity, even as US billionaires are simply giving away 50 per cent of their earnings.
In the welfare states of the developed world, since they lacked cash during the heaviest recession, the banks in the countries did not mind laundering 352 billion dollars of drug money. The drug cartels, flush with funds, did not mind pumping in this much of money to the economy through banks. They were benefited because of money laundering as their black became white money.
Where can a line be drawn about ethics and morality in dealings?
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