This conundrum is something which keeps my mind boggled down for several days , I tried finding the statically or empirical relationship between the performance of capital market index versus the real growth of poor and marginalized people across the world . But the contention which is always debatable and which I am sure the neo liberal views of modern economist or elected govt for that matter skews in favor of market driven growth which I differs widely , Because after all the populist measures are on ly good for expressions but when it comes to actual implementation most of the govt misses the actuals and they mindfully pursues policy decisions favoring the corporate , who runs the govt ,Masses only comes in to picture as a savior of democracy when elections are announced , because after all people still in a democratic country like India very much believes in this process ,They pins down their hopes that this time things would be different , elected govt for that matter rides on the hopes which they have created while campaigning . But being Indian we should be equally proud that we are a part of one largest and modern democratic country in the globe
While some of the statics from the world bank development index 2008 depicts a very sorry state of affairs.
Almost half the world population lives on less than $2.50 a day and at least 80% of the humanity lives less than $ 10 a day , these 80% are populated in the areas where income differentials are widening, See when media covers an opulent wedding of a richest person son or daughter ,where several cores of rupees are been spend for few hours , this is called wider disparity of poorer and richer ie, means 1% of the population have in their kitty huge concentration of wealth , which otherwise would have been enjoyed by the needy and poor
According to UNICEF around 22000 children die each day due to poverty these deaths never comes to the world ‘attention because these deaths happens in the most remote villages of sub-Saharan and Asian countries , Most of the time this startling and nerve breaking statics never gets the attention of media l, It is a well established fact that media wants news with glamour quotient or page 3 gossips, what the most famous actor or actress are doing? , where he or she is planning to go for honey moon? and following them while they are on date or gives wider coverage to popular peoples opulent weddings involves cores of rupees of money ,but one other side of the world people are dying with poverty and children’s are malnourished and starves to death .
Countries across the world are fighting for supremacy , they built weapons and invest heavily in R&D to built futuristic weapons So naturally demand for new weapons only comes if problem persists between countries , the purpose of the weapon is to kill other human beings , for this they spend billon dollars to grab the weapons in an artificially created demand driven market space But out of the money they spend less than 1% is required to send those children’s to school .
Health care and Pharmaceutical companies stocks are always on demand , world pharmaceutical giants in Europe and America are known to price their medicines at very exorbitant rates , new viruses and bacteria’s are always which itself is propaganda driven marketing ,Pfizer the pharma gaint has reported stronger than expected sales of the cancer and other drugs in emerging markets .So health care is one such industry which is growing day by day , investors are buying in to those companies share to make profits , after all health care industry sees itself as one such sector whose profits are going to soar like anything .Has the prices of drugs became cheaper , I believe it is not. The opportunity of this industry is huge means more chances to make more money, But on other side in Africa and other parts of the world millions are dying every day without getting proper medical assistance or access to affordable drugs .But stock prices of this stocks are raking in millions of rupees of profits.
In my country approximately 1.15% of the total population are having the money to invest in stock market , so when market touches new heights they make profits investing in stocks , but the rest of the populations are deprived of poverty, mounting debts of farmers which leads them to suicide. Ironically when markets touches news heights every one especially media go gung ho about the economic growth by highlighting the opportunities exists in emerging markets like India. If I go by the expert trends is this so called economic growth gets translated to real growth, the answer seems different for different cross section of the population , you ask this question to middle class farmer he would answer that Boss I don’t any such prospects for myself as I am not getting right price for my produce , If you ask this question to a daily wage laborer he would say I never heard what stock market is all about , But one thing is sure I am finding it difficult for my day to day to survival .
Finance Ministry is hoping or planning to achieve double digit growth in the next coming years, would the govt be able to percolate this growth mystery to the most needy and vulnerable sections of the population then we could say a real growth has happened, otherwise in my view it only creates opportunity for the rich to become more rich, rest of the population don’t see any improvement in their misery. If markets grows to another 10000 points more, Would the poorest of the poor gets benefited, will the percentage of the malnourished children gets nutritious food The answer I think is clear no. After all who is worried about all these not so popular issues? Tomorrow if index falls below the expectation even FM would be fly down to our Industrial capital will stay there still the market goes up, because this downfall involves the sentiments of big time investors.