Sham economic growth
Photo: Liton Rahman / driknews
G.D.P, expressed in arithmetical number, is the barometer to measure economic development of a country. Obviously, the question is does it stand true to what it is intended for? A cursory look at the state of affairs obtaining in developed and developing economies all over the world will provide instant answer. It is apparent that though a good many countries show meteoric G.D.P growth and high rise of income and wealth, yet the fruits of development do not reach equally, or even at all, to all the segments of the population. In fact, the rich and poor divide further widens and the number of poor multiplies. In this context, I would like to quote some relevant extracts from the speech of India's Congress party president, Ms. Sonia Gandhi in a recent convention in Delhi: "... The broad mass of people must believe in the fairness of the system if it is to survive..." "... The story of India's contrasts is well known: ability, aspiration and achievement co-exit with injustice, inequity and inequality. We have more millionaires than ever before, alongside millions who struggle for two square meals a day..." Therefore, as a conscientious elderly person, I strongly feel that traditional economic growth-matrix should be thoroughly overhauled and restructured. The new measure, in my humble opinion, instead of quantity, should be quality-based, depending on degree of accessibility-weighted average to food, shelter, healthcare, education and all other human rights of the entire population of a country.
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