Inequality & Privatisation?

CHAPTER 13

Inequality & Privatisation? (Published on February 23, 2018, at LinkedIn) I am producing my blog as it is as I wrote on LinkedIn on this date. I am going to forward this post of mine to all the top CEOs of 500 Fortune Global MNCs, Global Political Leadership & Global Top Entrepreneurs, concerned UN & other International Organisations & Institutions, Economists, Nobel Laureates, Strategists & Gurus and the Media globally. We know that the Generation, the Maintenance & the Destruction are the 03 destined phases of this physical world and it is applicable to all the aspects in our lives in the Life Cycle what we do. Do we have an option to prefer between Extinction or Survival in that ambit in our hands? If so, I am sure the later shall be the choice in any eventuality by every one of us being a part of this Most Intelligent Human Race that exists in this Live Eco-System 228 India: A $20 Trillion Economy by 2035-2040? & Regenerative Biodiversity surrounded by a Dynamic Environment comprised of natural resources in support. I have some very simple or rather basic questions to ask to you all who are going to read it and especially those are attending the GBS (The Global Business Summit) 2018 in India at New Delhi as it is coinciding. I am convinced with my research in the field of Social Economics for a long that the Maintenance part of this Life Cycle has gone astray, unmanageable with an unplanned & unintelligent progress & by a haphazard development in hurry as envelope kept on enlarging and over exploitation of natural resources with no accounting & plan for it ever initiated scientifically, in order to make our life extra comfortable as the time passed by or as we wanted or as we could think, hence planned that way. It may lead to a premature destruction phase of the planet if it is not corrected by the Humans (Who govern the Global Economy & Governing Power) on this planet with a top most priority accorded to it at the earliest. So, it is indeed a tipping point for all of us who feel that we care for this planet and also for our future generations if they could arrive on board. I am sure they will but responsibility lies with us. The questions of vital importance and needs to be addressed are:- #1. Are we doing enough for the survival of our future generations? Have we received an alarm towards our extinction prematurely or neglecting it knowing so well thinking some one else should take this responsibility to alter the course and Inequality & Privatisation? 229 not we or shrugging off the responsibility only to others & not collectively? Is any intelligent brain working towards the last impact of this concern? #2. If not why? If yes then why we are we not addressing it with the utmost priority needed? I felt it, researched, analysed & confident to write that we are about 05 decades behind in that effort by now. So, we have missed the bus though we can still do a turnaround if pledged by each one of us on this planet to reverse this cycle to bring it in par with time rather lagging behind. Do we consider ourselves hopeful, optimistic or try to neglect a reality though that the thought itself frightens us even in our deep sleep? Let’s look at the challenges the planet confronts today! #3. What are the biggest challenges we face today that are not being addressed with the required seriousness & the priority needs to be accorded by the Human Race on this planet & the Global Leadership and you all those are attending GBS 2018, India are not only an integral part of it but also the pivot those are managing World Economy as a whole? In many ways some of you are extremely successful on a scale of converting the challenges time to time in to Business Opportunities in the past and then becoming the most successful?entrepreneurs, economists winning Noble Prizes too and acclaimed Business or Leadership Gurus & so called great 230 India: A $20 Trillion Economy by 2035-2040? Strategists & political leaders who ruled but I am sure none could succeed In Social Engineering and Climate Management to the extend needed. #4. How can we overcome these challenges? #5. What are the final outcome of efforts towards ensuring the survival of the Human Race or the Planet? An Argument It is pertinent to mention and be rest assured that I shall not take you on a spiritual ride with this post and also certainly not only on an ethics based reading but push you hard and compel you to think & realize that what is that which is making a big difference in our lives and for the businesses we run as we are willingly inching towards our destined premature extinction if we do not resort timely to correct the course of action as needed to balance the same. I shall cover the contents of this post as listed above by covering each one of them at a dedicated Para but definitely not in a sequence. So, let’s first consider the biggest challenges we face today. 1. The First Challenge: I consider that?Inequality?that exists on this planet is the biggest challenge as about 30-35% population globally is completely deprived of basic necessities & amenities in life such as minimum amount of food & potable safe drinking water, essential health care, a small house Inequality & Privatisation? 231 for shelter and the primary education. In such an unequal world how can we stop more Somalia’s types communities gets created and their residents?gets involved in syndicated crimes with mafia support and cause colossal losses in billions for the maritime trade or in any other business stream that may be or the disruption in the services or in normal running of our lives but more alarming is that how many of them die every year due to hunger & epidemics before choosing that path of violence & crime and with the ongoing unresolved conflicts that revolves around them and engulf mercilessly. The inequality is not that dangerous as poverty is.There are many such geographies and nations where such situations do exist and it is adding to a growing hate by such deprived people towards those who are privileged & leading good quality life as it is quite natural as they are fed-up as nothing is being done by the governments, international organisations and by the NGOs or Charities or even through CSR efforts lately in many countries. Even most developed countries are affected by this syndrome though the poor and developing countries are encountered with both i.e. Inequality and Poverty. It certainly adds to an uncertainty to our existence as such population some time could be a cause of the biggest human conflict on this earth claiming on resources or the assets of so called 232 India: A $20 Trillion Economy by 2035-2040? Riches or the assets belonging to the Governments. There are enough such man made active volcanoes that exist on this earth today and they may erupt in to an unimaginable disastrous proportion if the problem is not addressed completely in this decade itself with the top most priority accorded to it primarily by the Global Leadership & also by the International or UN Organisations Involved in addressing the Inequality but poverty first. Without the empowerment of such poor and meeting the aspirations of little better off (middle income group) population must be the focus for the Global Leadership & the Businesses. There is no other way to achieve sustainability except addressing this challenge though we may talk about many futuristic developments needed in various countries at this point of time and of our business achievement as we the custodian of this planet are failing in our first & the foremost duties. Are you all doing enough if you feel that you are doing something in substance for this cause??Certainly not please. You are hardly doing anything. Many of you shall be on media declaring big plans after reading this article I am sure of it. My request is that do it collectively and meaningfully taking up a challenge at one place in one country in one project. After making that successful as a pilot than only you move to the next. Those are having Inequality & Privatisation? 233 cash on their balance sheets in billions must do something. I can suggest a project that you do in India or elsewhere that shall be certainly a sustainable business opportunity as well besides doing a great job for some of this unprivileged lot. I feel that is what is innovation and meaningful & socially relevant business keeping the safe future of our coming generation as most important aspect in our minds & plans. Poverty is killing on day to day basis as you see death in front of you but you ignore it because you are not at receiving end. How far you will go in doing such an inhuman act? You will invite an end to your existence (future generation) one day for sure if you don’t come forward and do something concrete. Let’s address poverty first in totality and then make sustained efforts to overcome Inequality. This inequality is nothing but a creation of growing abrupt privatization globally across countries over a period of time starting from the second half of the nineties till now as the corrupt governments when not able to do something for the cause I am discussing here and that helped corruption & black money generation in a big way & boosted the fortune for a certain privileged class of people that started becoming richer & richer every year by the way of expanding their businesses with the help of corrupt governments or by those who were exploiting 234 India: A $20 Trillion Economy by 2035-2040? demands or taking technology advantages in their favour. This class was a most powerful syndicate comprised of corrupt & power hungry politicians, readily helping them in their pursuit were the executives & judiciary for assured gains in return in each part of the world, CAs / Consultants/ Law Firms /Government appointed Independent Directors/ promoters/Bankers/ Banks Chairman’s & CEOs all playing an active role & taking their part of share and all these in connivance with each other, hence created a Powerful Business Syndicate and a club of Most Successful Entrepreneurs which governs the Global Economy. Though many famous & successful entrepreneurs who created the world class businesses with utmost social relevance are not a part of it as they exploited opportunities with their innovations or adopting the best global practices or by shear hard work dedicated to deliver or adhering to the ethics based multi work culture or empowerment of employees either through Skill Development or hiring the best talent or through any other pursuit that worked their way. But how many such people are there among riches ?The difference between the richest & the poorest started widening each year and grown to such a height that in 2017, only 66 richest people could possess assets worth equal to what 50% of the population in lower half income on this earth have. Inequality & Privatisation? 235 Hence, it is an alarming situation indeed and the imbalance is increasing each day & every year and these richest people are consuming the majority of resources. Therefore, the privatization pushed extra exploitation of natural resources in order to make increasing profits with in shortest possible time, hence, facing such a Climate Change issues in many parts of the world at an alarming rate. We are seating on a live volcano or on a man-made disaster that may erupt or take place in times ahead in many forms in different parts of the world which shall be very dangerous for our survival if we do not tackle it with utmost concern. Inequality is the sole reason that keeps majority of the population away from the happiness and is the main cause for demographic migration in various part of the world and that puts a burden on governance with new challenges surfacing time to time engulfing expertise & resources available with the global leadership. This social imbalance is in contrast to every Macro Economic Indicators by which each nation defines its Economic Progress or rating agencies categories them as improvements. So, for sure the economic well being is not an assurance for happiness as majority of population is deprived what they are entitled for. It is certainly not the communist way of thinking or a tilt towards socialism but thinking for a pragmatic solution 236 India: A $20 Trillion Economy by 2035-2040? under the realm of democracy for this neglected lot of Human Resource. We need to give up our pursuit towards privatization at the earliest and please think for poverty eradication through dedicate government social security schemes and programme towards Financial Inclusion. I appreciate that my Prime Minister was not only acquainted about it so he started such initiative in big way in India the moment he took over as a Prime Minister. 2. The second challenge: The way we (this class of entrepreneurs or promoters that run top 1000 or 2000 global businesses) do businesses is the 2nd biggest challenge as we are not enough Socially Relevant or Socially Accountable as needed as on date in terms of handling inequality in spite huge CSR spending by some of the organisations, inapt handling of climate change and over exploitation of natural resources including Human Resource without?a proper control on wastage’s, and finally not able to solve the people oriented problems that masses encounters on day to day bases. An attempt must be made without exploiting them (such masses) as demand exists there in certainty. You are not to be blamed if you feel and it is due to the cause of creation of Inequality to such a proportion as explained by me at Para-1 of this post above, however, you & we are responsible. Though we Inequality & Privatisation? 237 claim that we follow the best global practices, ethical businesses, competitive pursuit, fair, transparent and an accountable corporate governance but definitely not completely in true sprite as we certainly take some short cuts somewhere and try to exploit situations in our favour utilizing inherent options available to us through various means, hence, we fail measurably in contributing to the cause of Human Being’s Welfare and towards The Environment Protection and exploit every single resource at our disposal in order to become most successful & powerful businesses but certainly not even partially sustainable. We have made ourselves Profit Making Robots with no feel & no Emotion for the poor. AI & Robotics shall make it worst if we do not correct ourselves immediately as rather than using AI for the empowerment of such large neglected population we will take advantage of AI to optimize our expanses, resources utilization & improving O&M, hence, maximizing our social profits. We need to think that rather than creating a Capital Oriented World based on Artificial Economy through manipulation of Share Markets that could easily be done to help the riches only or those are creating profit making with the use of tax heavens but not through a Socially Responsible Organisations. The businesses must be globally adoptable with equal concerns to local social needs. 238 India: A $20 Trillion Economy by 2035-2040? We need to be globally responsible to take care of these two challenges as brought out at this post with utmost concern. I am sure we will and correct the imbalances with our sustained efforts right from today with a simple pledge for it that every action on this planet has to be socially Relevant & in favour of entire class of human race that exit on this planet especially directed towards removing poverty from this planet at the earliest. So, that we address Inequality in this decade to bring a harmony for co-existence. The corruption in any form has to vanish from this world at the earliest and the connivance of powerful businesses, money & leadership needs to serve humanity rather taking advantages of the problems that exists among poor or slightly better offs in societies globally. This is the only way forward otherwise we are definitely inching more closely to our premature extinction. Rather than discussing many cases of Inequality & Climate Change in support of what I wrote above and making it lengthy with numerous examples that manifest the above 02 biggest challenges that planet confronts today, I simply brought out them with simple logic so it is that is understandable to the common man of this world with their intellect & basic logic please as you all definitely understands it. I wanted to make it short so that all of you read it and offer your valuable comments please. Finally Inequality & Privatisation? 239 I would like to conclude that Our Survival or the Planets Survival depends how we make sustained efforts collectively and individually at the earliest towards handling of these 02 biggest challenges.?I request & strongly recommend the Global Political Leadership in countries, please give up your pursuit towards privatization and let’s stop the Share Markets & Online Trading Completely Globally, so that Artificial Capital Generation stops immediately and the Banks must be made as most potent instrument of Wealth Creation along with & in support of Businesses` and offering the best interest rates on savings as well as on credits / lending to the masses. The companies actual worth must be reflected with its Capital as shown on its Balance Sheets with real assets & inventories and not the worth that fluctuate at share markets or with branding as they are being manipulated by many big players (businesses) today simply with money muscles, hence such richest people are becoming more richer every year. It is further supporting Inequality in magnitude. I would like to recommend the Global Businesses & Leadership to be completely honest, ethical and above board socioeconomic relevant rather than profit making Robots. Can we do it?.Let’s attempt & All the best. We need to change this world and my pursuit starts today with this post of mine. The privatization must 240 India: A $20 Trillion Economy by 2035-2040? not be a Panacea but a limited tool in the hands of leadership. It is the man who is behind the success of Public as well as Privatization, so we need to make human resource honest, corruption free and motivated towards the discharge of their duties and the system must be made 100% transparent, efficient and accountable as best public enterprises. The challenge lies here and not in privatization. We need to turn around the public enterprises as they are the backbone of socioeconomic fabric of our societies across the world. Finally, I would like to submit that privatization is responsible for the corruption, black money generation, benami (Illegal) properties, for the unethical political practices and the creation of tax heavens & havala transactions and Crypto Currencies on this earth to a great extent and also Cyber Crimes. Let’s ensure our Survival! India is no different.?