Posts

Showing posts with the label Capitalism

COVID-19: Humanity and Human Well-Being beyond GDP

Image
The world is witnessing one of the worst pandemic of last one hundred years.  In one or the other way all citizens of the world are affected by this catastrophic occurrence causing huge losses of human lives viz-a-viz conditions of living.  The so called first world is the worst hit so far.  On March 22, 2020, the Indian Prime Minister, Narendra Modi announced 21-day lockdown to be effective from midnight.  He was able to read the signals and looking at the size of the population and the kind of health infrastructure that is required to deal with such a menace, this declaration was timely and needed.  On March 26, 2020, the King of Saudi Arabia convened an extraordinary virtual session of G20 nations where all the leaders expressed their concern over this grave global pandemic and agreed to develop a concrete action plan to fight together.  The Prime Minister of India , emphasized on putting the human beings at the centre of such planning for global pros...

SMALL IS STILL BEAUTIFUL

Government and industry face a dire challenge of responding to the expectations of the citizens. Government responds through public policy and industry through products and services. In independent India our economic policies were driven with a unique model of mixed economy whereby addressing industry and society. Welfare of the people was the primary concern and an intention of following Gandhi’s principles was initially visible. Gandhi who believed in small scale industries and village oriented economic policies had strong view on self-sufficiency concept which questioned western model of economic development. Nehru was all for socialistic pattern of society hiding away his thinking on capitalism. Nehru’s contribution is acknowledged in creating the temples of modern India. Or to say it laid the foundation of India’s economic development. Our grandparents always emphasized on the moral learnt through the story of Rabbit and the Tortoise – slow and steady, wins the race. It ...