The Wrong Headlines
We often hear such news that Mr X has become the richest person in the world. His wealth has doubled or increased phenomenally in percentage points. We also get to hear news that such & such people are the 7th or 8th richest person in the world.
But I am sure that never we have come across any news which says that X Numbers of people with the following names have become rich from being poor. Or entered the upper middle class from the lower middle class.
The Economic Collectivism
Why is that in matters of culture, tradition & society we celebrate collectivism but when it comes to economics we always tend to sing praise of individualism. Why can't we celebrate collectivism in economics as we do with individuals.
Why the list of billionaires is considered such a matter of pride but we hardly feel demand for the list or the numbers of ordinary people who transitioned into economic prosperity. Or is it that such list is hardly available.
The Zero Sum Scenario
It is a fact that economic resources are a zero sum scenario. If the world economic system allows the few to accumulate insanely immense wealth then it becomes directly proportional to the misery of the great many in the society. Still wittingly or unwittingly we feel proud on the success of the few over the decadence of the many.
We most often impose high value to the thinking capital & its resultant success of the few over the many. But such strategy will always produce few economic successes over the many in the society.
Our mind is fixated on the individuality of economics rather than on the collectivity of it. We must reorient our mind to view economics as the collective welfare treasure of the society rather than the free unfettered beast.
What we need is the same passionate collective thinking capital in Economics as we often do in culture & tradition.
Do you support this ?