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  • Jan 11th, 2018
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The world is an unequal place - and getting more so. Capitalism has triumphed in most places of the world. Capitalism is essentially "Winner take all". In 2015, the world economy was calculated at US$ 75.278 trillion. But the money is not evenly distributed. There are the super rich, the rich, the median, the poor and the desperate. The highest GDP per person - Liechenstine ($ 159,030), Monaco ($ 156463), Bermuda ($ 97533). Qatar is at No. 7 ($ 74837). At the lowest end of the GDP ladder are Brundi ($ 268), Niger ($ 361), Malawi ($ 373). One percent of the world's population is rich. Off this, 0.01 percent is mega rich. Actually, it is this 0.01 percent that owns, controls and manipulates the world. Jeff Bezos of Amazon is the world's richest man worth US$ 98.5 billion. HuiKa Yan with US$ 34.9 billion is China's richest man while Mark Zuekunberg of Facebook is worth US$ 72.2 billion.

The super rich can live anywhere in the world - Singapore, Costa Esmeralda, Monaco, California, etc. But where could they exercise the greatest power? In most liberal democracies of the West, the super rich are constrained. The system still believes in "ALL MEN ARE CREATED EQUAL". What is the point in being rich if you can't perform like a demi god?

For instance, if Jeff Bezos chose to live in India he could enjoy unimaginable power. He could buy the Taj Mahal and make it his official residence. The BJP, India's ruling party, is mulling of putting the Taj Mahal on sale. Bezos would have to install modern plumbing and Air conditioning. But that's small change. Bezos would be a star of Bollywood - far eclipsing Bachhan and Shahrukh. The Bollywood ladies, always on the lookout for a deal, would go crazy for Bezos and his $ 98.5 billion. Deepika Padokone, suffering from a series of broken relationships and depression, would be happy to hitch up with Bezos. Remember that for each star in Bollywood there are 5000 extras. There is an unending supply of 'extras' - both male and female. Bezos could throw great parties for his friends - parties could last 3 days and nights. Perhaps he will invite our 'national' hunk -IK? Bezos could also bank-roll the revival of the Congress party. Rahul Gandhi is looking for inspiration and ideas - but above all money. Bezos could also buy 100 legislators, both in the center and the states. In two years, with a well executed economic diplomacy, Bezos could emerge as the most powerful man in India. He would have a street named after him. A stamp. A Bank note. A river. If Bezos decides to spend the right quantum of money in Nepal, the Mount Everest could be renamed as the Mount Bezos.

At the lower end of the spectrum the poor have no place in the poor countries. They are better off migrating to Europe, the US or any other rich country. Attendant threats are there, but if they prevail, they will live, something not granted in their home countries. In France, 13 percent of the population is refugee - mostly Muslim. They are granted housing, education, medical, maintenance etc. Compared to their host countries they are living a dream. Occasionally they go on a rampage and demand "Shariah Law". How quaint. In terrorist attacks they target the very same system that shelters them, protects them and gives them substance. But for the desperately poor of the world there is only one dream: "migrate to a rich country".

(The writer is the former Executive Director of the Management Association of Pakistan)

Copyright Business Recorder, 2018


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