Nobel prize and Churu
wealth is what we inherit and income is related to salary.
it is very difficult for income to compete with wealth. For example, if a person from middle class has a land worth fifty lakhs then it is very difficult for another person to chase with a salary in thousands.
this concept is very relevant for those
1. who are ready to leave their houses after fighting, with parents, in search of informal employment.
2. who want to choose between a wealthy person and a salaried person in matters of marriage.
the situation is very clear in case of western countries where one must choose a wealthy option but then in India, we have to understand the dynamics in a very different perspective.
1.in India, there is huge corruption and salaried persons can earn a lot, which is not possible in western countries(like US). the sudden rise of the middle class since 1990 shows this phenomenon. Gini coefficient proves the fact.
2.our social values are tilted towards saving, we worship Laxmi, but in US people have consumeristic values and they spent a lot. As evident from the growth of wealth of Indian diaspora in US.
3. Indians value stability and care for land, gold and a government job. So for a salaried person, it is easy to access loan and store wealth. Due to the poor condition of informal sector all the loan is for overpaid government employees.
Angus Deaton got nobel prize for the concept which proved that wealth is the reason for inequality in developing countries. This concept is applicable for most of the developing world but Churu does not follow rules. Here I observe that salaried persons have gained much of wealth since 1990s and the wealthy Goldsmiths, shopkeepers, businessmen and many more are looking for loan from, the not so greedy, salaried persons.
this proves that one must never abandon wealth and if forced to go away then one should come back and for choosing spouse, salaried person is a better option.
also nobel prize in economics, it sucks....
it is very difficult for income to compete with wealth. For example, if a person from middle class has a land worth fifty lakhs then it is very difficult for another person to chase with a salary in thousands.
this concept is very relevant for those
1. who are ready to leave their houses after fighting, with parents, in search of informal employment.
2. who want to choose between a wealthy person and a salaried person in matters of marriage.
the situation is very clear in case of western countries where one must choose a wealthy option but then in India, we have to understand the dynamics in a very different perspective.
1.in India, there is huge corruption and salaried persons can earn a lot, which is not possible in western countries(like US). the sudden rise of the middle class since 1990 shows this phenomenon. Gini coefficient proves the fact.
2.our social values are tilted towards saving, we worship Laxmi, but in US people have consumeristic values and they spent a lot. As evident from the growth of wealth of Indian diaspora in US.
3. Indians value stability and care for land, gold and a government job. So for a salaried person, it is easy to access loan and store wealth. Due to the poor condition of informal sector all the loan is for overpaid government employees.
Angus Deaton got nobel prize for the concept which proved that wealth is the reason for inequality in developing countries. This concept is applicable for most of the developing world but Churu does not follow rules. Here I observe that salaried persons have gained much of wealth since 1990s and the wealthy Goldsmiths, shopkeepers, businessmen and many more are looking for loan from, the not so greedy, salaried persons.
this proves that one must never abandon wealth and if forced to go away then one should come back and for choosing spouse, salaried person is a better option.
also nobel prize in economics, it sucks....