Friday, May 25, 2007

He said...

Economist prime minister with a socialist tone.

...the need to avoid high salaries for executives, discourage conspicuous consumption, even keep profits “within the limits of decency”

The time has come for the better-off sections of our society to understand the need to make our growth process more inclusive; to eschew conspicuous consumption; to save more and waste less; to care for those who are less privileged and less well-off; to be role models of probity, moderation and charity.


Can we start with our own elected representatives, please? They who wallow in crores? Those who claim to represent the poor?
And then once we do that, can we reduce the bribes your very own bureaucracy takes, right from securing a licence to a ration card to an electricity connection?

Four, resist excessive remuneration to promoters and senior executives and discourage conspicuous consumption. In a country with extreme poverty, industry needs to be moderate in the emolument levels it adopts.

At a very superficial level, let us assume this happens. Will India become prosperous? No. Some of our better executives will leave to work for another country, where they do not have a salary cap. Let us set up a salary committee that will decide on pay structures and meet once in five years (note to myself).

The edited speech, if you so desire...Thats it. More perhaps later, and then again perhaps not.

1 comment:

ggop said...

I'm wondering if he worries that Indian citizens carry a trillion dollar credit card debt in the future like the US :-)

Good post. Though in fairness point 9 of his edited speech urges us to end corruption at all levels.