Wealth is the abundance of valuable resources or valuable material possessions. This includes the core meaning as held in the originating
old English word weal, which is from an Indo-European word stem.[1] An
individual, community, region or country that possesses an abundance of such
possessions or resources to the benefit of
the common good is known as
wealthy.
The United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human, and physical assets.[5][6]
Natural capital includes land, forests, energy resources, and minerals.
Human capital is the
population's education and skills. Physical (or "manufactured")
capital includes such things as machinery, buildings, and infrastructure.
Way back in 1776 , Adam
Smith wrote a book , popularly known as “ Wealth of Nations “
I have not read it so I do
not know what Smith included among a nation’s “ Wealth “
But way back in Feb 2016 , I wrote
following blog :
There , I listed the following “ natural resources “ :
* Oil / Coal / Shale
Gas etc ( Fossil Fuels )
* Ores
of Iron / Copper / Zinc / Aluminum etc
* Trees ( timber )
that grow in our jungles
* Any number of minor minerals / chemicals
And I asked whether the following too , should not be included
as “ natural resources “ belonging to a
nation – and therefore be subjected to the same treatment as others :
·
Air / Wind blowing over our
country
·
Sunlight
that falls
on our vast land
·
Water flowing in our country's rivers
·
Oceanic
Tides , capable of generating power
·
Airwaves (2G / 3G / 4G / 5G Spectrum )
Sometime back , to the above list , I
added “ Private / Personal Data “ of the citizens of our country , as an important item of “ National Wealth “ , which must be exploited for “ empowering
/ enriching “ the citizen concerned
{ See : Privacy
For Sale [ 26 Aug 2017
}
I felt very elated when my own earlier / similar , thoughts got echoed
by none other than Shri Nandan Nilekani !
Yesterday , speaking at ET Start Up Awards function , he said :
Europe has focused on the downsides of data flows
to ensure a strict data protection regime
We should not just mimic the west , the European
Model .
In India , we should design policy to also enable people to use their data
to benefit themselves
Nilekani said we should look at an empowerment
model.
“ We will become data rich before becoming
economically rich
So , how do we use our data to get better
healthcare, better education , better credit ?
Look at our digital lending
platforms , where the customer
gives his payment data , business data and gets credit in return
Thank You ,
Shri Nilekaniji,
I urge you examine my following suggestion and ,
if you feel that it provides for a “ distinctly Indian
solution “ to empower / enrich the data-owners , then persuade
the Central Ministers to adopt it ( - with changes deemed necessary by you )
A Matter of Motive
18
Aug 2018
www.hemenparekh.in
/ blogs
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