Recently I read a very interesting news item. “India’s richest 1% corner 73% of wealth in the country” screamed the headlines. The socialist mind immediately declared this to be unfair. The political mind thought about blaming this on the opposition. The spiritual mind said it is all about your karmas. But the Capitalist mind, the Economist mind had some different thoughts.
What do you mean by “corner”? The richest person in India is Mukesh Ambani. What does he do with his wealth? He has created multiple businesses that generate employment and make a large contribution to the GDP. So did he “corner” the wealth or did he “channelize” the wealth? Let’s imagine it is my Rs.1 million that he has cornered. What would I have done with this Rs.1 million. Most probably I would have spent it on a good holiday in a foreign country or maybe I would have bought some jewellery, etc. So is that form of “mini cornering” better than the “mega cornering” by Mukesh Bhai?
Just a thought – in some cases “mega cornering” is better than “mini cornering”. Sometimes we pool our mini investments and make a mega corpus managed by a Mutual Fund that provides this mega pool to the Entrepreneurs who can dream big. So does mini become better when it is pooled to become mega? Just thinking.
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