Essay on Vested Interests in Production – The industrial empires have created pockets of vested interests throughout the world that have a stake in the business legally and sometimes illegally too.
There are stockiest, agents, distributors, sales representatives all around the emperors forming the nucleus.
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They are all legal vested interests. Then there is the bureaucracy issuing licenses, giving permits, allocating land and buildings, deciding sites and states.
Financing agencies are there to give loans, to allow overdraft and provide many other banking facilities. Political leaders are not out of the picture. They are too much there in formulating plans in their favor and in becoming a partner in the business from the back door.
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Then there are political parties requiring money during elections and the press which undertakes the propagation of the products. This large army of individuals and groups has some part or the other to play in these industrial empires. They all become vested interests and promote further industrialization.
All the vested interests have created a myth in the world especially in backward countries that this automation and other scientific innovations in the industrial sector have resulted in lowering the prices of commodities.
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The facts are to the contrary. Of course, many things are available in abundance and have reached the common man. But the prices of many others go on rising.
To the production cost are added the prices paid for the import of foreign technology the advertisement costs the costly management expenses directly and the money paid under the table indirectly.
All of these form a legion to proselyte the people in favor of brand names. No one is ready or willing to bust the myth. Scientific innovations go on increasing the prices every now and then in the name of fineness.
Important Points to Remember about this Essay:
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1. Industrial empires have created legal vested interests like selling machinery and illegal i.e. administration.
2. Financing agencies provide them loans.
3. Political leaders formulate plans for them and become backdoor partners.
4. Political parties favor them for election contributions.
5. Press gets advertisements.
6. All propagate that large scale production by machines lowers prices.
7. On the contrary payment for foreign technology, advertisements, costly managements and bribe increase the prices of brand names.
8. So none exposes this conspiracy.
9. Even scientific innovations increase prices in the name of fineness.