LINE OF WEALTH

By Zulfiqar Shah T he changes in the modern economy in the post twentieth century scientific advancements have changed the relations around mode of production. This has caused an uneven economic development in the society and economy causing broader accumulation of wealth that results enhanced gap between poor and rich, which even cannot be balanced or undone through re-distribution of the wealth by the existing economic systems in the countries. In fact, the “Consumables” are essential human requirements for survival. Economic disparity has caused accumulation as well as control of consumption with the wealthy and powerful, meanwhile poor is struggling for his survival which essentially is an economic survival of the fittest.      Economic Justice is basically four pronged: equal rights of all on the natural resources; public audit and payout on the wealth accumulation beyond certain limit; equality amongst all haves and have-nots both; and post sci...

By Zulfiqar Shah   R ecently published book, “Line of Wealth” by economist and scholar Roshan Lal Agrawal is a economic treatise in which his theory around “consumables” is one-step forward in comparison with existing theories of economics. Until now, the economic narrative has been around the comedies and production, which set the dictum of market, finance and other sectors of the economy. The ‘consumable’ context and reality of commodities, productions and services is a beginning for a paradigm shift in the trade, commerce, agriculture and industrial economy – both in theory and in practice. If simply seen, his doctrine has following basis: Fundamentality of “consumables” as bases for casual results in the economic process of production, consumption, monitory circulation, accumulation of wealth, net use of labor as essential factor in the determination of price of production; market; surplus wealth, surplus labor and unsustainability in the pursuits of ec...

By Zulfiqar Shah I n human justice, the meaning of Economic Justice is a situation where everyone has equal share on the natural resources. It is not based on the talent, aptitude or effort. It is just beyond that. Economic justice is a fundamental human right according to Universal Declaration of Human Right therefore cannot be violated. On the foothold of this rights regime, a person’s right on the wealth can tangibly be measured through a ceiling on the wealth that fall in the fundamental rights sphere. The possession of wealth more than a ceiling should be considered outside the fundamental right. Although all religions; Universal Declaration of Human Rights; and the Constitutions of all countries confer the right of equality of all; however does not talk about the ceiling on the property. One the other hand, Hinduism; Christianity and Islam to greater extent have expressed the Godly and Prophetly commandments for the taxing above the certain ceiling of t...

C ontemporary economies has accelerated the accumulation of wealth enhancing rich-poor gap and lead world to permanent poverty. Line of Wealth approach only is the way forward.   The changes in the modern economy in the post twentieth century scientific advancements have changed the relations around mode of production. This has caused an uneven economic development in the society and economy causing broader accumulation of wealth that results enhanced gap between poor and rich, which even cannot be balanced or undone through re-distribution of the wealth by the existing economic systems in the countries. In fact, the “Consumables” are essential human requirements for survival. Economic disparity has caused accumulation as well as control of consumption with the wealthy and powerful, meanwhile poor is struggling for his survival which essentially is an economic survival of the fittest.      Economic justice is basically three p...