THE Economist weekly of London in a recent issue reported that one per cent of the people own 50 per cent of world wealth.
This finding by an authentic organisationbased in Switzerland pronounces f ailure on the democratic and socialist systems that dominate the world.
It should cause greater worry to the countries who, in addition, profess to go by the Islamic principles of equity and justice with Pakistan in the lead. Barring a few who are lucky to have found oil, all are poor some desperately so. Pakistan is among them.
It is not so ordained. The flaw lies in their system of governance in which Islam has become the preserve of a few who exploit it to their own advantage rather than welfare of the common man.
I would urge our religious and political leaders, economists and planners to look at the structure of society and its underlying values which keep us backward. My own feeling is that they would find fanaticism and schism which keep us backward. I see no other reason for us to have fallen behind India in economic growth.
