We are going to discuss the problem that India has faced today by converting its labor force into capitalist ones. Given the differences in India, the argument between “hard work” and “Harvard” has wide resonance. However, if our masses want to eventually reduce the gap between capital owners and wage earners, they must start accumulating firm shares. Despite this, the nation still faces challenges to achieving success, including uneven growth, untapped population potential, and untapped business and innovation potential. Continue reading the article to know more.
India’s challenge is to turn workers into capitalists
Years before Infosys co-founder NR Narayana Murthy’s call for the country’s youth to work 70 hours a week, prompting a diverse range of ’emojis’ on social media, Prime Minister Narendra Modi had tapped into the same demographic increase by highlighting a distinction. between “Harvard” and “hard work.” It was a point of political rhetoric, where privilege was replaced by the latter. It was particularly appealing to those who considered themselves to be on the working-class side of that divide in a nation where many people aspired to lifestyles to which the Internet had begun to expose them. It didn’t matter how many hours they worked, how hard they worked, or how productive they were.
Modi’s proposal attracted attention due to its political undertones. There was a right-wing Bharatiya Janata Party leader who had cleverly eliminated a platform that had been used for years by left-wing groups. The communists were previously the main supporters of the disadvantaged in India, always ready to elaborate a “class struggle” waged by the workers against the capitalists. In his view, fair play required turning the tables because one was either a capital owner or an employee, and the latter held all the cards. If the communist economic model were to collapse due to distorted work incentives, its binary identification system would be unable to withstand interaction with a crucial capitalist institution: the stock market.
Right-wing discourse prevails today. Let’s think about the United States to understand its appeal. The old American proverb, “If you can’t beat ’em, join ’em,” did not go unnoticed by its workers. The world’s first joint stock company was the British East India Company, but it was the American capital markets that initially attracted wage workers who were willing to exchange their hours of work for cash to exchange the savings they earned over time. they had such a hard time earning for shares. This allowed them to become capitalists themselves and eventually live off their assets when they retired. The rise in share ownership in India indicates that we are also heading in that direction.
Categories: Biography
Source: vtt.edu.vn