Answer to Question #50219 in Macroeconomics for kanchi
“There is a mismatch between man’s ability to produce and social incapacity to utilize”. Explain the meaning of this statement.
Today we now have the scientific s& the technological know row to produce what our country needs. But a lot of our people our poor, as they do not have gainful employment. Thus food is not available to there at the price they can afford. Unless our scientific & technological skills is suitably backed by a political & administrative will to implement the right. Kind of rural and urban development program, poverty & malnutuition will continue to threaten us. About 55.5 million people (22.7%) in our country are agricultural labour who have neither land to cultivate nor farm animal to keep. They are willing to work hard and expect to be paid by the evening, since they head a hand to mouter existence. A vigorous employment generation dive alone can improve their lot. Employment can be generate through development programs of the govt. Group action backed by bank finance &village co-operatives. Marketing, storage, transport these all are beyond the capacity of an individual villager. These can also be assured by village co-operatives. The govt. can take up massive programmes dealing with irrigation, supply of drinking water & construction of permanent roads & well planned houses in the countryside with the help of banks & insurance agencies, village cooperatives should pay special attention to problems of national importance that can be solved only trough coordinated group action.