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Showing posts from November, 2020

Derailed Capitalism

The fundamentals of the game have to change as they currently favour wealthy investors and not workers and tiny enterprises India has an incomes crisis: incomes of people in the lower half of the pyramid are too low. The solutions economists propose are: free up markets, improve productivity, and apply technology. These fundamentals of economics must be re-examined when applied to human work. Three solutions Economists say markets should be freed up for agricultural products so that farmers can get higher prices; and freed up for labour to attract investments. Without adequate incomes, people cannot be a good market for businesses. In fact, it is the inadequate growth of incomes that has caused a slump in investments. Ironically, the purpose of freeing up markets for labour is to reduce the burden of wage costs on investors just when wages and the size of markets must be increased. Human rights must prevail over economic considerations. Good markets enable smooth transactions between b