Western Economic Education & Poverty in Third World by N. Natarajan - HTML preview

Chapter 19

Is Growth a solution?

To growing Unemployment & Poverty?

For the prosperity of the citizen, the economic activity need to be sustained and not Growing!

A Managed Economy, that is prevailing world over cannot ensure Prosperity of the citizen through employment.

No government can ever provide unlimited White collar jobs to every graduates churned out of Educational Institutions that produce “learning & thinking” disabled glorified Clerks.

Such people seek employment because they do not have th knowledge and skills required t become an entrepreneurs themselves. So they seek to become clerks who are not required to Learn & Think.

The new strategy of the Leaders, who have no clue about Economics, is to promise the citizen, who have very little to nil ability to Learning & Thinking.

Either they believe in such an idea that a growth is a must for employment and living.

In the past, the same leaders mislead the same population with “job Reservations”, “Educations” as sure solution to backwardness, poverty and unemployment.

Changes take place, everywhere, with time. Without changes we feel stagnant and suffer. Changes also threaten stability.

A positive change is invigorating and motivating to produce more.

At the same time, even very small change causes instability and disruption to normal life of a few. Often, changes bring more problems than pleasant experience.

Sheldon Kopps, aptly so, calls Growth, an illusion!

Economic Growth in past centuries

We will go back to the times when shadow economy (that produced Pseudo goods and pseudo wealth was not produced) did not exist.

People produced real goods and traded with others.

The societies of those days were managed by kings and wise men. They built infrastructure that ensured people produced enough products for the members of a society and the products reached the consumers

Conclusion

The pages above described the perspective of Economics different from what is taught in Economic school.

The Economics taught in world’s leading economic schools did not have a human face. The wo