By Priyanka Dey

In the everyday hustle of money making when one of the richest man of the world who shook every stone while he lead his way to top was questioned on switching chairs to being a philanthropist and industrialist, Bill Gates said: “In terms of a new path, Microsoft had a huge impact. Philanthropy also has a huge impact, but in a different dimension. We saw that a lot of the diseases were neglected by governments. And lot of the rich world didn’t have those diseases. Here we saw very unique opportunity to intervene.”[1] The Bill and Melinda Gates foundation started in 2001 works for the development of health in the potential and backward countries. Gates have been found working on the path of “be the change you want to be. “ Something that is very “In”-as my generation calls it. But till how far are we to incept in the democracy is vital discrimination. Let loose at the hand of every single brain, democracy becomes a play field of political hooligans. That is what has happened in the past. Social powers have been exploited to ransack the bags of poor people without realisation on their part. Consolidation of thought and voices are the basic agendas of democratic structure with the garnish of high individualistic values.

 Adam Smith in Wealth of Nation talks about the invisible hand as a solution for perfect competitive market equilibrium, sadly in social context the same do not apply. Mainly due to two reasons, one there is no state that can be described as ‘social equilibrium’. The demand and supplies are not only infinite the aggregation of all these on basis of interpersonal utility comparison is false. In a democratic regime there is less and less chance of one thought to unify all other thoughts. Thoughts which form the basis of demands create uncertain outcomes in different structural mind. The other factors which operate in individual’s day to day life demarcate the demand choice also. Secondly, perfect competition is unattainable at social paradigm. There is always a class which is underprivileged or exploited hence the importance of special protections. Inequality in society causes hindrance to normalization of social importance. However, in Indian context it will be wrong not to comment about biases for high society people as well. Indian tax structure tells the story alone. The policy to put tax burden on the middle income group is not only exploitative but also anti growth. Rather than increasing the tax base which should be the motive, Indian tax policies reduces the base by pushing people in lower belt and forcing black money routes. Thus our motive should be impact driven in everything else that we can use to stimulate social change and welfare. In long run somewhere I believe there is a steady state situation which is attainable form equality amongst single micro unit.

The off late introduction of impact investing can see as a potential change. Industrialists and capitalist have started to understand the importance of sustainability. To increase the returns on investment from investments it is critical to increase the sustainability of the same. A secure pathway is produced from pre-calculating impacts on not only the asset but also an all comprising analysis. India is way behind in showing interest on this method of intellectual investing policies. It has to thus be ingrained and popularize soon.

Priyanka is passionate for love , economics , dance, fashion and living life . She builds her life in hope of inspirations. For her bringing change is the cause of our existence and every step that one takes changes assumptions for the superstructure . It gives her pleasure in deconstructing anything and everything . According to her we all know what we actually want and eventually achieve that and the rest that comes in the path is just knowledge creation.

Posted by The Indian Economist | For the Curious Mind