Today, we don’t have to worry about the multiple choices of products that we consume daily. Majority of global brands are being easily penetrating even in the far flunged and the remotest part of the world with their marvellous marketing strategies and, mass production activities. Unfortunately, those who are in favour of mass production, prefer to be silent on the issue of mass employment. It is undeniable truth that only mass production will not be sustainable; unless we provide equally quality employment for masses for which mass production is designed. In the developing countries,the situation is so grim as they are on the verge of losing the demographic dividend. In this blog, “Importance of mass production by masses” you will realize the importance of decentralized production activities by masses for masses..
Exploding global population
Fortunately, we have no dearth of human resources. As per the current data, world numbers are firmly approaching the 8 billion mark and by the end of this century, the numbers would be around 11 billions.
Though the growth rate is showing some negative signals in the developed countries of Europe, Australian, and American continents, but the deficit is being effectively compensated by the Asia and Africa.
Apart from this, the most promising and unfortunate thing is the working age population is hovering around 60 percent worldwide. With this, the child dependency ratio as well as growing old age percentage isn’t going to provide sudden relief for policy makers of the both worlds.
Fear of losing demographic dividend
Compare to developed nations, newly emerging countries of Asia and Africa have large pool of workable yet educated numbers. If they fail to provide the required employment for these youths within the specific time period, the nations will loose everything -especially, demographic dividend, human capital, investment in education, and a potential market.
Consecutively, many Socio-economic issues might surface to threaten the socio-political fabrics of these nations. Nowadays, issue of unemployment like developed countries, is rapidly gaining momentum even in the developing, as well as underdeveloped world. No doubt, it is wake up call for leaders.
Agrarian distress and rural backwardness..
In our world, variations are abundant. In case of share of agriculture in the GDP and in the employment generation, we have different types of observation. First, in the industrial or developed nations of the Europe, Australia,and America, the share of agriculture in GDP and in the employment generation is not more than 5 percent. In these regions, respective governments offers various incentives and benefits for the agrarian communities.
Second, in the developing or agriculturally predominant regions, the share of agriculture in the GDP is something around 10 percent, but in the employment generation, it constitutes more than 50 percent.
It indicates that in the nations where structural change is yet to implemented properly, agrarian communities are forced to live on the paltry income of disaster-ridden agriculture. On the other hand, these regions are effectively exploited by multinational corporations in the form of markets for theirs products without proportionate employment. Despite the fact that mere agriculture isn’t enough to maintain the livelihood of farmers and landless labours, the respective governments are unable to solve this problem due to the monumental nature of situation.
In this way, these portion of people are dragged in the vicious cycle of poverty, ignorance, and backwardness.
Relevancy of technology intensive industries..
Mass production by masses cannot be applied for everything. There are certain industries which need to be empowered for the development of better, advanced technology. We are in the age of green technology. Hence, research and development is the soul of technical world.
But, if a multinational firm is on the basis of economics of scale and factor advantage, investing his money in the agro-processing, toy making, and other consumer goods to mere maximize profit on the name of consumer satisfaction ignoring the employment issue, then it may prove catastrophical for many more. We cannot let others to be victimized on the name of consumer satisfaction and choices without purchasing power.
Economic inequality and issue of climate change
It is used to say that the poorest should have the first right over the resources of nation. And, at the same time, we usually emphasize on the use of all the natural resources within the carrying capacity of nature. In this way, we could achieve our well prescribed objectives, “Sustainable development with equity and just.”
Today’s developmental vehicles are mainly designed for the main motive of profit by the so called economic actors to be relevant in the perfect competitive market. In this mad race, will they consider the interests of ignored stakeholders –nature and poor ?
Double standard policy
Unfortunately, US President vehemently criticizes the online giant-Amazon for eating out the jobs of retailers, on the other hand, they empowers the world’s largest numbers of economic giants to empty the pockets of the global consumers. It looks like ridiculous, isn’t it ? This is enough to prove the importance of mass production by masses in the 21st century.