Wrong emphasis on a Country’s Economic Cycle instead of focusing on Living Standards of Households Only a few countries in the world are doing what needs to be done scientifically but in-comprehensively, incoherently and unsuccessfully. The government focuses on “Country’s Economic Cycle” based on the natural fluctuation of the economy between periods of expansion (growth) and contraction (recession). Factors such as Gross Domestic Product (GDP), interest rates, levels of employment and consumer spending ignoring the “Living Standards of Households” consisting of an individual’s struggle to satisfy his family’s genuine basic needs, dream of living a comfortable life and desire to enjoy the taste of luxuries. Each individual either remains entrapped in the first stage of living standards of households of merely satisfying his and his family’s basic needs only or dreams of transition from the first cycle of satisfying needs by acquiring comforts and moving on to enjoy luxuries of life. He has two options: first to work hard, earn enough money to afford a healthy living to an extent of providing a motivational environment and affordable quality education to his children “on his own” for preparing them to live a comfortable life. Once the children are grown up, groomed well and educated the doors to luxuries of life are opened due to demographic dividend. Second, he does nothing, remains poor and stays where he is barely satisfying his and his family needs. First option is availed by a few strong willed and lucky ones and the second option keeps different countries’ varying percentages of population below poverty line. As a practice the governments usually promise to frame policies keeping first of the three living standards of households in mind assuring at least a “minimum wage” so that a just across the board minimum level of social and economic balance is created and maintained. Such policies minimize the pain of the people who barely satisfy their needs and their dreams to gradually and smoothly transit from the first social and economic segment to second and from second to third never comes true. They remain poor. Poverty is and can be tolerated to the extent of poverty. It becomes intolerable when it crosses its limit and enters into the domain of deprivation. Deprivation results in polarization and fragmentation. This is where the governments need to look for a way out of the mess the world is in socially, economically, politically, diplomatically and militarily. How? The present system of education across the globe is evidently producing classes of different levels of employees who rarely move from lower managerial level to higher managerial levels and this will be noticed not in the distant but the near future. The most important aspect of this ironic situation is the need for understanding the seriousness of the psychological and social dimensions of this issue before it’s too late. How this can be done? By remaining focused on a boy and a girl’s education from play group to university and reinventing system of education and investing more on Early Learning, Work Integrated Learning and Creating Self-Employment Opportunities. Early learning will enable the school dropouts to opt for Work Integrated Learning equipping them with sufficient necessary skills with experience for technical and supervisory jobs as well as entrepreneurial opportunities to skilled innovative and creative young boys and girls for which banks and financial institutions have to be lined up for providing government subsidized interest free loans against sovereign guarantees. This will inspire the young enthusiastic boys and girls to start their own small and medium scale businesses creating job opportunities for others also. At present Work Integrated Learning option is offered to graduate and post graduate level student which is absolutely wrong. The best time to offer Work Integrated Learning courses is immediately after fifth grade enabling the potentially drop outs an incentive to continue their studies, acquire skills with basic necessary education to qualify for either good jobs or government plus private sector sponsored loans for small businesses of their own. This is a social and economic option for the governments to nip the unemployment, poverty and deprivation in the bud and lay the foundation of a classless society. https://linkedin/pulse/shakespears-second-seven-ages-governance-zahid-khalid
Posted on: Fri, 23 Jan 2015 05:57:21 +0000
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