Way to Offset the Wealth-concentrative Tendency of Capitalism

Wealth concentration is a natural property of any active economic system. Capitalism is no different but offers a very effective way of offsetting the concentration of wealth. This may be community enterprises at the local level and cooperative capitalism on a larger scale. Many cooperatives are already doing very well in India. It needs to be extended to other complex entrepreneurial ventures.

Village residents can pool resources to establish a cooperative enterprise to run agro-product storage houses and provision stores in nearby cities. The irony is that MNCs and giant corporations sell cut vegetables, ground spices, and wheat flour.

A colony can run its cooperative provision store, restaurant, and health centre. Any community can reclaim many productive activities, which have gone to corporations. I remember cobbler used to measure our feet to supply customised footwear when I was a kid.

Communities can be the best and most reliable producers and suppliers of capital, commodities and services.

Niraj Kumar Jha