‘Over the past decade, India has witnessed healthy redistribution of the good kind — from the poor and middle classes to the billionaire elite’
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It’s surprising how the Election Commission (EC) has develop into a mute spectator to repeated violations of the Model Code of Conduct, even when the violators are attempting each trick to sow divisions between the majority and the minority. Yes, I’m speaking about the Congress and the way its starriest campaigner has been allowed to go round selling disaffection between the nation’s largest majority (the poor) and the smallest minority (the wealthy). Not happy with fanning resentment between the two, the Congress has gone a step additional by overtly speaking about wealth redistribution — the socialist equal of Pearl Harbour.
I’ll be the first to confess that I’m no genius at economics, nor do I’ve the stunning mathematical thoughts of a Russell Crowe. But all mentioned and achieved, economics is not rocket science, and even science. Some of you could have seen this well-liked economics column referred to as ‘No proof is required, hence proved’. I’d say that’s a pithy abstract of how clever individuals ought to method financial questions comparable to wealth redistribution. So, I’m going to clear the air on the redistribution debate by relying on my very own financial frequent sense and mathematical prowess as an alternative of turning to overrated consultants. So, bear with me and also you shall be rewarded with unprecedented insights.
On the key query, let’s be clear: wealth redistribution occurs all the time. Regardless of which social gathering is in energy. But there are two sorts of wealth redistribution. There is the good type, which promotes social stability by locking everybody of their designated place in the social order, similar to in the caste system. Then there is the dangerous type, which disrupts the conventional social order by rising pointless social mobility between totally different rungs of the class ladder.
The poor are pleased
Over the previous decade, India has witnessed wholesome redistribution of the good type — from the poor and center lessons to the billionaire elite. Till date, all proof factors to everybody being pleased with this association. The wealthy are pleased — clearly, as a result of they’ve gotten richer. And the poor are pleased, as a result of they have a temple, plus the sense of belonging that comes with being a part of a WhatsApp group. What extra do the poor must sustain with their identification of being poor?
This column is a satirical take on life and society.
However, this association is now underneath menace from the Congress’ proposal to redistribute wealth in the reverse route — from the wealthy to the poor and center lessons. First of all, this is towards the legal guidelines of nature — if it weren’t, there could be no inequality in the world and your uncle could be as wealthy as Elon Musk (with out truly being Elon Musk). Secondly, the very concept is petty and downright insulting, to the nation’s tens of millions of non-HNIs.
Why does the Congress suppose so little of the toiling plenty which have efficiently sustained the nation’s privileged elite for millennia? As per the World Inequality Database, India’s high 1% (the wealthiest) personal simply 40.1% of all wealth. If my calculations are proper, then that’s not even half the nation’s wealth. This means most of the nation’s wealth — 59.9% — is already in the fingers of the majority (the 99%). India has a inhabitants of 140 crore (supply: PM’s speeches). Now, 1% of that is 1.40 crore. 140 crore minus 1.40 crore is — I dare any economist to inform me I’m mistaken — 138.60 crore. Can anybody severely argue that 138.60 crore individuals can’t help 1.40 crore individuals? But that’s precisely what the Congress social gathering’s ‘revolutionary’ manifesto is suggesting! Why? It’s easy: they wish to fill the hearts and minds of the poor with resentments towards the wealthy.
Obsession with unemployment
This complete rich-poor rhetoric is so Sixties, it’s ridiculous. Same goes for the Congress marketing campaign’s obsession with unemployment. Who of their proper thoughts talks about jobs in the age of AI and entrepreneurship? Today, each Indian, be they wealthy or poor, aspires to be a wealth creator, not a job-seeker. That’s why the Congress banging on about so-called joblessness is despicable. It’s nothing however a determined bid to garner votes by polarising the citizens into employment-seekers and employment-deniers. If this is not a clear-cut case of hate speech towards the nation’s rich minority, I don’t know what is.
And but, the EC is reluctant to cease politicians from making incendiary references to redistribution and jobs. Let’s hope higher sense prevails quickly and it clamps down on this phenomenon with the similar alacrity with which it has cracked down on communal rhetoric.
The writer of this satire is Social Affairs Editor, The Hindu.
sampath.g@thehindu.co.in
