Disproportionate distribution of money

With the advancement in technology and increasing literate population it is becoming very difficult for illiterate people to survive in such world. Without any technical skill, no one can find the good job. Even in agriculture new machines and high-tech equipment are required and being used to increase productivity.

Gap between rich and poor is more dangerous than Global warming: For rich people it is easier to give education to their kids or even if they didn’t complete education, their rich dad can arrange source of income for them. But for poor kids, there is only darkness! They do not know how they can finish education without money and even after finishing education if their grades are little less, whether they will get good job or not! They have to suffer for under under-qualified job.

We are living in a world where rich are becoming richer and poor are becoming poorer. On top of that, robots and artificial intelligence is reducing jobs. This scenario needs to be change. This is not the future we want for our coming generation. We need to find a mechanism to distribute wealth equally. There are two things we can do. First is for those employees who lost jobs due to automation must be compensated by providing some kind of pension from the profit company is earning by using automatic machines and AI. Second thing which can be done is by limiting maximum wealth a person can leave as legacy to hairs. We all earn everything from this world and from people living on it. Why should legacy be transferred to few people? It belongs to people from whom (S)he earns it. This rule must be implemented on billionaires. All excess money above the prescribed limit must go to charity or to government for welfare of poor family. This way we can reduce disproportionate distribution of money and live in better world.

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Can we destroy Currency?

 

Lot of people consider that every time money is spent on some seemingly no profitable work, money is wasted. For example: Elections and wedding parties. However, money spent is not necessarily money waste. Actually, every time someone spent a big amount of money it boosts the economy. Money is wasted when it is destroyed without information. The worst thing for economy is when people keep money stored in their homes or in Swiss bank as black money. If you stop circulation of huge amount of money, it will drastically affect economy of country.

Irrespective of popular notion that when we spent money extravagantly, we are ruining our country wealth, the truth is we must support every such event. Let us take the example of election. In digital India, elections are also digitalized. 24 x 7 you can see advertisements of political parties on electronic and print media. In four years, Modi Government spent total of Rs 4,343.26 crore on advertisements and publicity through different media, according to a RTI. This money could have been used for some more important works too, but it will be wrong to state that this money is wasted. Money only changed hands. While changing hands a fraction of it will go to poor labourers, spot boys, technicians, wall painters and junior artists. Though, that might not be the intention but it is by-product of publicity expenditure. Thus, money spend on publicity is not wasted. It just moved from a political entity to media houses and their workers, journalist, technicians and artist.

Similarly, in marriages, when people spent lot of money, this money does not go anywhere. It just changes hands. More importantly, in some cases, black money entered into circulation once again.

The question that arises in mind is how money is actually wasted or destroyed. Talking literally, if you burn money without informing government, it will be lost permanently and it will cause deflation. Deflation means cost of goods will decrease. Since only small percentage of net wealth is in the form of currency, burning few notes will not create any effect. However, please note that, burning currency notes is illegal in many countries.  Even if your currency is damaged during natural disaster or otherwise, you can send it for replacement. Never throw or destroy any denomination of currency notes.

Let us take another example: An aeroplane is destroyed in mid-air with 100 passengers. All died on board and plane was lost in Deep Ocean. Suppose cost of plane was 1 million $. Is this 1 million $ destroyed? No, it’s not. Cost of plane is determining by the material and labour used. When you purchased the plane, you paid its full cost. When the plane was destroyed, your individual wealth reduced, but not the currency in circulation. Hence, we can say that individual’s wealth keep increasing or decreasing, but money does not decrease. Money only changes hands.

World is not Enough!

“If the son of Adam were given a valley full of gold, he would love to have a second one; and if he were given the second one, he would love to have a third, for nothing fills the belly of Adam’s son except dust.” Saheeh Bukhari : Volume 8, Book 76, Number 446

It was a typical day in the office and while returning home I was thinking about the people begging on the street. To live a nice life with family having good home in nice locality, mid-size car and a servant for house work, you will need Rs. 10 crore ( in India) for whole life. However, people are making fraud of 1000’s of Crore and running away from India. That money too is not enough for them. For some people, World is not enough! They want more and more but finally dirt fill their belly. There are as many as 14,800 multi-millionaires (having more than 60 Crore Rs.) in India, a report says. You will not find any of them sitting home. Most of them will be still working for unknown reasons. They all have typical mind set.

After a certain time, people start working for name, fame and position. Even though, they had enough for themselves but still they find new reasons for moving on with their work. They forget why actually they started earning money. Some people start working for their family, some for living a lavish life, their are some other who wanted to make others life better with their hard earned money. However, as time goes by, they forget their basic reason for earning money. They became more dedicated towards their work than to the cause for which they started earning. 

A written goal statement is a must to avoid such situations. Do not become machine or slave of your desires. By fulfilling your desires, you can never control your desires. By controlling them, you can fulfil your desires. There is no end of desires.  Make your desires your slave. There must be a point when we should start thinking about others too. Will it not be better if we start sharing our wealth after reaching a certain financial security.

There are many people who think earning too much money is bad! However, this is not true. Money is not bad, like everything else-its use can be good or bad. Earn as much money as you can using honest means. Spent it on poor and needy people for food, shelter, education and employment generation. If money is bad, do not keep it with you after earning. Give it to charity. They will happily take care of it. Certainly, money is not bad. Money is a one of the best thing you can have! It gives you power to help and makes life of others better. World richest man does not find it bad either. He is donating money for different cause. Bill and Melinda Gates foundation is doing amazing work towards saving child life and improving it in African and other so-called third world Countries.