Globalization Will Thrive On Surplus Income – OpEd
Globalization has helped countries to sell goods and services across the world. Politico business leaders have amassed wealth from global trade.
Though wealth was amassed, the much talked about inclusive growth and happiness continues to delude the world community. Unemployment, hunger, farmers’ suicides, income disparity, increase in the number of fig workers, corruption, economic slowdown, the widening gap between ideology and action and the rise of dictatorship etc has shaken the human civilization from its root. Pursuit of wealth by any means cannot achieve inclusive growth, peace and prosperity for the world community. Economic growth is like a living being; all parts of the body should grow uniformly so that the entire body will function to generate surplus income and happiness. The biggest challenge before the global community today is how to generate surplus income for inclusive growth and prosperity.
The economy of a country grows amid a healthy society, culture and environment. A nation in pursuit of wealth should not overexploit nature which will lead to loss of livelihood, damage to air, water and soil. It increases the number of diseases and reduces productivity hours due to extreme climate conditions. The nation has to spend huge amounts on relief and rehabilitation packages. Political leaders in order to cling to power spend huge amounts on populist measures which create idle energy to destroy productivity and human resources. Massive amount is spent to repair rivers, lakes, ground water and forest cover which are the integral parts of economic growth. It is impossible to force all human beings to do a few economic activities. This is detrimental to inclusive economic growth. The human being can achieve his unlimited mental capacity if he chooses his profession as per his natural interest. A creative person cannot do a stereotype job in a factory or office; he can excel in the creative area of his choice. The manufacturing sector should not be too big to devour other economic sectors; loss of other economic sectors creates fig workers with uncertain futures.
Millions of fishermen across the world used to earn their income and happiness due to healthy rivers, lakes and ponds. When mono sector growth damages the water bodies, they lose their income. Deep sea fishing has amassed wealth for a few but it has created poverty and unemployment for many people. Over damming of rivers, construction of so many reservoirs, destruction of forest and hills ultimately depletes the fish reserve, crop diversity and many minor forest products. There were thousands of gifted artisans in different countries who used to add high value to naturally available material; they used to make a wide range of eco-friendly utility items.
Art was in their DNA which travels through the generations. When modern school education stopped teaching children how to appreciate art, the number of buyers of art objects in the market has reduced. People have started buying plastic but not art objects due to their loss of aesthetic sense. Mass production of look alike art objects in the factories has destroyed many priceless handicraft traditions across the world. Once the skill of making art objects is gone it seldom returns; many countries have lost a treasure trove of artistic skills, jobs and huge foreign currency due to loss of handicraft skills.
Human beings cannot develop finer human emotions without taking interest in art and culture. Without finer human emotions like love, kindness and sensitivity to human sufferings, a ruler is most likely to surrender to his demonic quality; he will try to amass wealth by any means, even by giving extreme sufferings to his own people. Both science and art should go together. Thousands of unnecessary infrastructure projects have been built across the world which have ripped apart the balance of nature; it destroys livelihood, increases the loss of human life and brings damage to economic assets. It increases the debt burden and inflation. The worst thing is that it aggravates the intensity of flood, cyclone, earthquakes and landslides etc. The global leaders should know what hit them hard. It is not war and economic slow down, it is manmade natural calamities only. The basic needs of life like housing, health, food and education become very costly. As a result, peoples’ surplus income is eroded. Surplus income lays the foundation of economic growth. The surplus income is used for buying goods and services; it is deposited in banks for investment. The economy thrives on surplus income. True religious leaders should plant finer human qualities in the minds of the rulers so that all good things will start to create the right environment for generating surplus income.
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