Economics Of Mahavira ► 06 ► [06.08] Poverty and Unemployment - Direction of Resources

Posted: 19.03.2006

It is true that if the entire wealth and resources of the world were used for eradication of poverty, the situation today would have been very much different. Obstacles, however, appeared in the way. The available wealth has not been used in making mankind happy or prosperous. It has been applied to the manufacture of destructive weapons. Nations became apprehensive of others. A kind of arms race started. If we see the statistical evidence given in a recent report of the United Nations Development Programme, it would be discovered in what direction money power and resources are being applied.

Eight hundred billion dollars are being spent every year on defence. Converted into rupee terms at the present rate, this amount translates itself into thirty-two lakh crores (Rs. 32,000,000,000,000). It means that an astronomical amount money is being spent on defence. All this expenditure is being incurred not for the security of mankind, but for the defence of territorial possessions.

The rich countries are giving aid to developing countries merely of 50 billion dollars. In other words, the total aid being given is of the equivalent of two lakh crore rupees. Now it is very easy to make a comparison of the two denominations: How small is the amount of aid and how large is the amount spent on defence. And much of the aid is taken back in the form of interest and repayments.

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