Sub: Economics - Growth, Equity, and Development

We often hear that growth is happening but not development. Have you ever thought
of the dichotomy between (if any and should there be any) growth and development?

Jobless growth is what happens when the economy grows in GDP terms but net
employment doesn't commensurately grow. Remember from Economics that three
questions are what/how/for whom to produce. Here, it can be mechanized, AI-
triggered growth. Not necessarily many people are deriving benefits out of it. The
economy is NOT for economic measurement, it has to be for people. Remember
Lorenz curve and Gini index from studies.

Another aspect is GDP is growing, rich becoming richer. What about the bottom third
or even the middle third. Even the net purchasing ability of the second half of the first
third reduces over years. Someone's salary is say 100 and grows to 110 in four
years. Ten percent growth one may say! Outside prices would have increased by
30% in retail terms. So effectively one becomes poorer than what one was.
Purchasing power reduces and savings get affected if one tries to maintain the
original standard of living.

The above are points to ponder. Nextgen has an important role to play in building a
just, equitable society. Doing Ethics, Sustainability, and Governance Practices
course is one aspect, and LIVING it is another. GOD bless us all with the sensitivity
and capacity to build a better world that shall be fair, equitable, and sustainable. Rise
to the occasion and these efforts are for the same.

The academic campus should be vibrant intellectually where students are engaged

in passionate discussions around the projects that make a difference. VPSM starting
hundreds of such projects and initiatives which eventually shall become companies
and become large companies to make a huge difference in the next 20-25 years is
the dream. 

GOD bless