Yes the rich are getting richer, no doubt about that. 90% of that Forbes India list is probably paidashi rich. Indian economy seems to be, by the billionaires, of the billionaires and for the billionaires. We the working class will be like waiters at the billionaires banquet, exchanging notes on whether the billionaire I served was more wealthier than the one you served.
Democracy is neither capitalist, nor is a capitalist, democratic. In our hypocritical world such labels are meaningless.
Of course why would billionaires need to steal lands or our livelihood, when they have friends in power who are only too happy to oblige. Like you said billionaires are not idiots.
P:S - if you are from Bangalore I'll give you a guided tour of the Infosys campus at electionic city and perhaps you can help me meet these illusive millionaire gardeners and drivers at Infosys that I have missed all these years.
Product of misguided education system of socialist era. Looking down upon people who create wealth from an 'imagined' moral high ground.
Creating wealth is not a zero sum game. Everyone can be wealthy!.
Obviously, there isn’t a finite number of jobs, or finite amount of wealth. Otherwise we would still be sitting around in caves, figuring out how to divide up pieces of fire wood, and the occasional dead deer.
Most of the wealth in civilization, in fact all of it, has been created. It got created from somewhere. It got created from people. It got created from technology. It got created from productivity. It got created from hard work. This idea that it’s stolen is this horrible zero-sum game that people who are trying to gain status play.
But the reality is everyone can be rich. We can see that by seeing, that in the First World, everyone is basically richer than almost anyone who was alive 200 years ago. 200 years ago nobody had antibiotics. Nobody had cars. Nobody had electricity. Nobody had the iPhone. All of these things are inventions that have made us wealthier as a species.
Today, I would rather be a poor person in a First World country, than be a rich person in Louis the XIV’s France. I’d rather be a poor person today than aristocrat back then. That’s because of wealth creation.The engine of technology is science that is applied for the purpose of creating abundance.
Capitalism is actually good. It’s just that it gets hijacked. It gets hijacked by improper pricing of externalities. It gets hijacked by improper yields, where you have corruption, or you have monopolies.
Rich getting rich is a good thing as long as its a free market. Its their only incentive to continue taking risks. Mukesh Ambani took a huge bet of $35 billion and played a long game of 4-5 years to create Jio. It could have ruined his empire. It destroyed inefficient competitions and reduced the cost of moble internet to the poor. He also generated lots of wealth whomever worked with/for him. Anil Ambani took different bets and lost now going through bankruptcy process.
Role of state is to be a mediators ie, create free market. In india the legacy of socialism is so entrenched in to our minds we cant let go. It failed everywhere yet (educated) people makes this kind of statement. Redistribution of wealth is a terrible idea it failed everywhere. Celebrate wealth creators, facilitate them. If there is corruption and crony capitalism then fix the system strengthen institutions. If you demonise the rich and tax even more they can leave and look for other places to create their wealth. Which is never good.
PS: part credits naval ravikant
Its good that PM has started talking about the same openly.
PM Narendra Modi bats for ‘wealth creators’
Opinion | Modi seems to have reprised Gandhi’s economic vision
relevant what i saw morning today:
. It doesn't matter if it's a former Prime Minister or a chief economist of IMF all of them have an agenda and not goodwill advise.
