Early History of Money

Initially, there was no value for any animate or inanimate thing in the world we live in. Human beings due to their superiority among the animal world by being able to communicate with each other develop words to connote some works and ideas. 

They began exploration and exploitation of nature to yield better results than the then existing condition. Thus, agriculture, forestry, housing, water sources were developed. When they began thinking about comparative labor force employed on each of different works for different operations, they found that some are efficient in certain works and some others in different work.

In course of time number of necessities increased, labor force began comparison and started giving credit /value to each operation. Time later on became an important factor for giving value to a product or operation. Thus, began value assigning in course of time led to creation of MONEY for acting as medium of exchange between two or more products. Every country today has its own currency or money.  

My main aim in giving this earlier history of money is that the values we give to products are specially comparative values of four things can be exact four times or depending upon their new technology twice.

 
  2 3 4 5       Rs

8 12   16 20 Rs

8 15 12 15 Rs

In this global world economy, the country with minimum labor costs would ultimately capture the maximum wealth. India with vast unemployed human resources and with willingness to work on very low wages would in course of time attract the maximum demand.

The only condition is that unions should desist from pilling demands for higher wages at least for two decades by which period; we will be in a position to exorbitantly increase them. We can ascend from lower to high regime. See the case of USA, other European developed nations the labor force there accustomed to high wage regime would prefer to remain unemployed rather than stooping to lower wage rates.  

It is on account of this tendency the entrepreneurs in these developed countries are opting to shift their bases to low wage regime nations If we do not take advantage of this state of affairs, somebody else like China, Philippines or others would overtake us.  

This so called HALF NAKED FAKIR MAHATMA GANDHI taught us SIMPLE LIVING and HIGH THINKING. He is universally recognized by throughout the world even now sixty years after his assassination as he stood for social justice all along, encouraging village living with charkas which require forest wood only.

Supposing Prime Minister of India is now paid Rs. 20/25 Lakhs per annum. Nobody else in the country to exceed that under any circumstances .The wages or incomes of people should be limited to just 24 Lakhs and anything extra with them forced to contribute to the Trust which try to provide guaranteed minimum living wage to the vast unemployed humanity in the country, or wealthy billionaires can be given charge of development of certain number of villages, in modern housing, roads, protected water supply, solar and wind mill energy plants, education and health, not theoretically but in practice we should show that we are capable of doing this, corruption comes out of huge budgets, pompous living. 

Our aim should be low wages no immediate accumulation of wealth except for meeting just social needs of masses. When there is just simple living corruption activity doesn’t take place automatically there will be steady progress to higher level no fear of levels falling down.

Supposing the wage of an NREGS worker is fixed at Rs. 150/-per day, means, Rs.4500/-p.m or 5400/- per annum. The consolidated wages/ remuneration of all workers or officials should be prorata reduced and the minimum starting rate may be fixed at Rs. 60000/- per annum. The maximum can be 24 Lakhs, one or two Lakhs less than Prime Minister's. 

The Lakhs of people drawing  or receiving remuneration of above this cap i.e., 24 Lakhs should be compulsorily made to be kept in Govt. Trust for utilization on priority housing., clothing, water power supply roads above all on education and health aiming at almost hundred per cent employment. Thus the sin of exploitation is washed out. 

These equitable consolidated wages lead to cheap food clothing housing education and health for the poorest of poor in course of next few years meeting domestic wide market. Then we can look to exports and foreign exchange. 

With these low rates we can successfully attract major demand which paves the way for slow and study increases (no fear of decrease) Standards of living of the nations. Then only progress will take place with no fear of falling down. This is mainly based on GANDHI’S teachings and preaching’s which are respected universally.

Let us start to put it in practice w.e.f.at least 1-1-2012!