Ashok R. Tolat of Ahmedabad is our award-winning letter writer this week. In his letter, ‘Billionaire’s travails’ (IE, March 29), he critiqued the argument our columnist Sudheendra Kulkarni made in The Sunday Express of March 25. Capitalists are entitled to their wealth because they work hard and take their chances, Tolat argued. I sold blood to set up my business, he said, and I could have still failed. We selected this letter from several close contenders because the letter writer makes a point rarely given much play in Indian public discourse: a clear, staunch defence of rewarding those who take risks. We reproduce the letter below:
Billionaire’s travails
This refers to ‘Don’t look out for the billionaires’ by Sudheendra Kulkarni. I wish from the bottom of my heart every human would be rich and nobody would have to work for anybody. But sadly that remains a utopia. Kulkarni would like all the employees to receive the lion’s share of the assets disproportionately in comparison to what the promoters get. It is easy for an armchair analyst like Kulkarni to wish that. Has he ever tried to start a business? Has he ever wondered what a man goes through to get his business established? If the employees want to have more of the assets they can start their own businesses; more power to them. For every successful business there are about 99 that fail.
The entrepreneur who starts a business that fails goes broke. Is there a heart bleeding for him? When I started my business, I worked all day and night. Every two weeks I would to sell my blood to make extra money to survive. When I succeeded, people were jealous of my wealth. Nobody cared to know what I had to do to get that wealth. May there be no poor man in the world; but the stark reality is there will always be poor people because there will always be those who are not willing take any chances in their lives.