The approach for consumers should be as usual. Do not kiss your festive inclinations goodbye. The show must go on.

IIPM 3-year full-time Integrated (MBA BBA) Programme

If all this talk about austerity by politicians has led to consumers feeling guilty, I would stick my neck out by saying that such guilt is unwarranted. It is not to be denied that there are many reasons that can make the consumers feel the pinch of going out for shopping.

One, the job of consumers is to consume and they do the economy a service by doing so; second, the inflationary spiral in essential items has extracted every ounce of austerity that resides in us already. And third, it is the festive season – and what would festivity be without people consuming, bustling food stalls, new clothes for the family and lights everywhere! That’s where the fun lies.

This season, I would exhort consumers to shed their austere cocoons – a product of inflation and examples set by politicians whose posterity is as fickle as the weathercock. Moreover, consumption is a national service. Look at what happened during Ganeshotsav this year – less idols were bought and those which were bought were cheap ones. Craftsmen were plunged into misery by such scrimping behaviour which was probably not an outcome of inflation but the swine flu. The same would happen if consumers reduce consumption and it is happening and at a very large scale.

To the rich I would say, “If you are inspired by the recent austere clouds surrounding you, give some of your money away so that consumption can be kept up as it is the lifeblood of the economy. For every rupee that you give away, the national consumption would rise. A basic law of economics is that the poor consume greater proportion of income than the rich. If you do not want to give any of your money away, then do not hoard it, but spend it. That it is the next best thing to charity. Your money on crackers, clothes and candles will ultimately find their way into a many a poor man’s stomach and light up their lives. Please do not behave like Uncle Scrooge in Christmas Carol.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

“We will change your outlook” - The Sunday Indian on B-SCHOOL RANKING SCAMSTERS EXPOSED! A must read...
For Exclusive Footage by Sunday Indian Click Here

Outlook Magazine's B School Ranking Scam Exposed
Business Standard Exposes the Outlook Magazine Money Editor
Don't trust the Indian Media!

IIPM - Admission Procedure
IIPM, GURGAON
IIPM 2-year full time Programme (leading to the award of the MBA degree from IMI)
B-schools expect higher rate of campus placements this year
IIPM B School : King Khan, Bollywood Badshah and Quiz Wiz — that’s Shah Rukh Khan for you