wisdom and knowledge – 4

Every social injustice is not only cruel, but it is economic waste.’’- William Feather American author 1889-1981

This is the fourth posts I have been talking on wisdom and knowledge.

Regarding disparity, in my view, it is state created problem because of either inefficient government or the government of oligarch or may be plutocrats. The rich always misunderstand to poor. They ignore to understand the problems of ‘‘vicious circle of poverty’’ [1] and how to enlarge the market from the application capital to get solutions. Plutocrats always say that this is a problem of government as they have been taxed. It’s all about a creation of the knowledge base society where the balance without wisdom is not possible. [2]

Justice not for all

Joseph Stiglitz is worried about poor and equally worried about unexpected failure of globalization. He highlights about the current justice that ‘‘Justice for all’’ is being replaced by ‘‘justice for those who can afford it’’ and the number of people who can afford it is rapidly diminishing’’ [3]    According to him ‘’the problems are not with globalization, but with how it has been managed… IMF, World Bank and WTO have served the interest of the advanced industrialized countries particularly narrow mind-sets rather than developing world; he believes ‘‘globalization can be reshaped to realize its potentials.’’[4]  

Chrystia Freeland sees ‘‘one set of causes is political’’ behind the economic injustice and argues that ‘‘after all, no one is actually in favour of crony capitalism.’’ So she ‘‘needs a new deal” to ensure the economic benefits for all not only for plutocrats. [5]

Similarly, range of policies seems in favour of rich. Policy makers are the kind of people who respond to the preferences of the rich [6] as they are well off [7] but they claim they are working for the poor. It is like a film where the richest hero acts for the poor.  Hence state is being involved for the discrimination. For example- taxation system, infrastructure development like road, electricity, technology, environment and security are designed for the benefit of rich as the poor have very low consumption and purchasing power.

Policy formulation like taxation, infrastructure like road, electricity, technology, environment and security are designed for the benefit of rich as the poor have very low consumption and purchasing power.

Also, rich offer lots of empty promises to poor. They spend lot of money in a birthday party of their children but they don’t allow to a poor child to join the party and have food about to wasting in the bin.  Guards are assigned to stop poor to join the party because a poor ragged child is a matter of a rich’s prestige.

Disparity in figure rich-85

According to Chrystia Freeland we’re living in the age of income inequality [8] plutocracy and the age of crony capitalism. The 85 richest people own the same wealth as 3.5 billion poorest [9] and 75 million young people are unemployed [10]; Number of forcibly displaced worldwide: 51.2 million [11]. Some 805 million people in the world do not have enough food to lead a healthy active life. Due to poor nutrition nearly half of deaths (45%) in children are under five i.e. 3.1 million children each year [12]. Indeed, We are not in the empty world where the resources are totally ran out but there is lack of cooperation to utilise natural resources for example Nepal has 83,000 MW hydropower potentials [13], which has not been tapped yet; apparently because of mistrust between the stakeholders. Rather we are fighting for how to snatch/grab forcefully natural resources like oil, minerals and water for the own benefit.

Conclusion

There is big criticism against injustice and inequality. In a state everyone must have food, cloth and shelter, as well have an opportunity to seek Good life. Current system is felt unable to address the individual problems and the social order, does not encompass the moral principles which guide us in designing our economic institutions for the ultimate purpose of socio economic justice and even it does not free each person to engage creatively in the unlimited work beyond economics, that of the mind and the spirit. Overeaten big fish may die soon from the indigestion or may be eaten by unite group of small fishes. Government is the best actor and the synonymous of the state. So the best practice of the responsible state is fair share of resources and humanity for sustainability.

Previous posts on wisdom and knowledge:

Business, Wisdom and Materialisation

State, Wisdom and Marginalisation

State, wisdom and injustice

Other sources

Social work, poverty and economic injustice

Value: Social and Economic Justice

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