Sunday, December 23, 2007
Marx Ignored Human Capital
Marx thought about his philosophy he considered all the people are weak and feeble and the Have-nots being exploited by the Haves.
But the world has changed over the years and in the last decades it has changes rapidly.
Internet, Globalization has played a tremendous role in it and it is an on going process.
But still today you have got poverty, 5 Billion people in the planet is living below the poverty line(According to UN drawing less than US$2 per day).
But today if you really unleash the power of the people you have to educate them in right full manner. If you look any country which is G-7/8 countries (Process Economies) their main capital is Human Capital.
Take for example a country like India, which is struggling to climb up the Value Chain, is not having quality Human Capital.
Mr. Narayan Murthy was a socialist but this socialist with Rs 10,000 ( Us $ 300) set up Infosys and in 25 years time the Market Capitalization of Infy was Rs 1,35,000 Crores (US$35 Billion).
A Marxist having brain power( Proper and Right Education) can be wealth creator and in turn can benefit the society.
It is unfortunate we don't have enough Narayanmurthy's, but India is having a serious challenges of over population.
There is a silver line behind the dark clouds the 350 Million young Indian kids who are between the age of 9 to15 years requires proper education.
The demography can give tremendous dividends if we can educate them and it is not going to be a liability. I am sure if India can ensure that every child can access quality education and stay in school for at least 10 years, another 10 Narayanmurthys can come out, may be Marxist or capitalist but can benefit the society by wealth creation.
You cannot get Laxmi without Saraswati bandana. You have to admit that knowledge is power but also economic power.
" If you think money can give you independence you are absolutely wrong, it is the knowledge, ability to utilize the knowledge and experience can give you independence" Henry Ford said these great words.