Financial independence is the most sought trait in
recent times. It is not wrong to be financially capable, but the means to achieve
that has to be right. In the mundane world the yardstick to measure the status
of an individual is the amount of wealth he has. The more wealth one has the
eminent figure he is. While a few earn wealth without breaching the line of illegality, some have the knack of doing illegal things legally. Both may be
good at finance and can flourish with their wealth, but they are causing a dent in economics. Amassing wealth by ignoring economics can bring temporary
flaunt and pleasure, but in the long run, one has to pay price of ignoring the
economics.
Now is finance and economics different???
They say Indians are rich but India is a poor
country. My country is financially
strong, but economically weak. Economics is embodied with certain rules,
regulations, policies, vision, to check on the fraudulent flow of the money. Finance
is an individual matter while economics is that which focuses on holistic
progress. Economics is designed to provide financial stability to the society
as a whole. Finance cares only for the self and economics cares for everyone.
We have seen many who earn in crores financially but
evade tax. Financially they are strong but economically they are sick. Firstly
we need to understand that in any society the payment for occupation is not
appropriate. A movie star is remunerated more than what a farmer who toils in his
farm gets, not to talk about corrupt bureaucrats, politicians and crony capitalists. Economics is modelled to support the weaker section and eliminate the
domination of the financial giants ensuring the stream of money flow towards
everyone. It is the finance oriented people who smartly bend the economics and
amass money. They may be termed smart, but not as wise as economists, who have
the vision of stability. Amazingly the people who ignore the economics and
focus on the finance are the ones who do not enjoy their money. They either get
caught for breaching the regulation or end up stressed trying to safeguard their
unethical collection of finance. Hoarding of money gives more stress than they
can provide comfort and pleasure. Wealth is supposed to take care of us, not we
taking care of it, stressed out. Mallya and Modis can boast of their wealth but live as fugitives fearing arrest anytime. Are they in joy and
happiness???
Financial fraud is the effect of ignoring economics.
By overlooking economics we are directly responsible for the financial crisis in the
country and high rate of inflation. The nation’s financial strength depends on the implementation of economic policies and its sincere compliance. The rise and
fall of Indian Rupee depend on the per capita and circulation of money
in the market, not by the net income of the few financial frauds or the black
money they have amassed.
There is no evidence in the history where a person
who has amassed money fraudulently has benefited from it at his eleventh hour. Money
may buy medicine but not health. Astonishingly the generations of those who
have amassed money continue to pile garbage. It is invariably a wrong result in
the wrong and unethical deeds.
A nation can be financially robust if the
economics is valued by every single individual. The onus is on us not just on
the elected government. Normally an ache in the stomach is either due to hunger
or indigestion. Economics is an antidote to both, it lets everyone eat their
share and burp in satisfaction, avoiding starvation as well as overeating.