A Curious Wealth of Poverty There is no place on earth quite like India. It is alive and bursting at the seams, its economy expanding at unprecedented rates. Potential is the national currency: GDP skyrocketing, international investment booming, and industry flourishing. Where dirt once dominated, there now stand skyscrapers, highways, luxury apartments. And yet, amidst all this wealth and prosperity, 363 million Indians are still living below the poverty line (Katyal), excluded from the astounding growth that surrounds them. Quietly enduring the burden of destitution, over 41 percent of the world’s poor are left without a voice as they plunge further and further into the depths of poverty (Kotler & Lee). It is Katherine Boo’s Behind the Beautiful
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So concentrated is this affluence that the hundred richest Indians control nearly a quarter of the nation’s economy (Boo 138), amassing incredible wealth even as the poor continue to languish. How is it that the rich can splurge contentedly with their lavish “New Year’s bashes” (Boo 10) while countless millions of Indians “don’t have access to decent toilets” (“Poverty in India”)? How can they bring themselves to “demand bribes” (Boo 92) while claiming ceaselessly that “it’s [the poor’s] fault” for India’s predicament (Kingsolver)? If this degree of depravity and inequality endures, then progress becomes meaningless - serving as more a display of personal extravagance than a symbol of national prosperity. Not only will the economy suffer from lack of diversification, but the very foundations of Indian society - its morals and its traditions - will begin to collapse, victims of insatiable …show more content…
In the midst of this intricate issue, a solution presents itself that is both profound and effortless, readily capable of leveling the disparate Indian economy: Creative Capitalism. While it may sound daunting, Creative Capitalism simply dictates that companies should develop business models “that cater to the people left out” from the standard “benefits of capitalism” (R. Mehrotra, Nirola, and P. Mehrotra 2). Considering that the market of the Indian poor is larger than the markets of most nations, developing “profit driven” companies designed to create “products and services” for the needy is not only a viable business strategy, it is also an altruistic one (R. Mehrotra, Nirola, and P. Mehrotra 3). Under Creative Capitalism, more companies will generate essentials such as clothing and soap for the poor, while less will be focused on the creation of luxury products for the wealthy. By tapping into the unlimited market potential of the Indian poor, companies that adopt Creative Capitalism will not only thrive themselves, but will also empower millions of impoverished Indians to do the same. Instead of needing to “spend a fraction of their wealth” on corporate social
So concentrated is this affluence that the hundred richest Indians control nearly a quarter of the nation’s economy (Boo 138), amassing incredible wealth even as the poor continue to languish. How is it that the rich can splurge contentedly with their lavish “New Year’s bashes” (Boo 10) while countless millions of Indians “don’t have access to decent toilets” (“Poverty in India”)? How can they bring themselves to “demand bribes” (Boo 92) while claiming ceaselessly that “it’s [the poor’s] fault” for India’s predicament (Kingsolver)? If this degree of depravity and inequality endures, then progress becomes meaningless - serving as more a display of personal extravagance than a symbol of national prosperity. Not only will the economy suffer from lack of diversification, but the very foundations of Indian society - its morals and its traditions - will begin to collapse, victims of insatiable …show more content…
In the midst of this intricate issue, a solution presents itself that is both profound and effortless, readily capable of leveling the disparate Indian economy: Creative Capitalism. While it may sound daunting, Creative Capitalism simply dictates that companies should develop business models “that cater to the people left out” from the standard “benefits of capitalism” (R. Mehrotra, Nirola, and P. Mehrotra 2). Considering that the market of the Indian poor is larger than the markets of most nations, developing “profit driven” companies designed to create “products and services” for the needy is not only a viable business strategy, it is also an altruistic one (R. Mehrotra, Nirola, and P. Mehrotra 3). Under Creative Capitalism, more companies will generate essentials such as clothing and soap for the poor, while less will be focused on the creation of luxury products for the wealthy. By tapping into the unlimited market potential of the Indian poor, companies that adopt Creative Capitalism will not only thrive themselves, but will also empower millions of impoverished Indians to do the same. Instead of needing to “spend a fraction of their wealth” on corporate social