I’ve never thought I will write a post on politics. But, I am doing now. What made me do it?
Well, a couple of days back I was reading a book “When to rob a bank and 131 warped suggestions” written by Steven D Levitt, and Stephen J. Dubner. (the authors of the “Freakonomics“, the famous non-fiction book that released during 2005.) The book is a collection of selected articles from the blog.
I was flipping pages and I stumbled upon the article Would Paying Politicians More Attract Better Politicians?.
The article talks about a scenario where politicians should be paid more in order to be more efficient and happy. The article also talks about how politicians should be given stock options/ receive a share of profit from whichever plan/government facility that they’ve established.
It is a really interesting idea.
“He looted this many crores; he looted that many crores” is what we talk about and read about in newspapers. What does these things tell you. Politicians (not everybody) need money. That is the root cause of all the problems. They need money!
If that is what they need, why not give it to them?!
If a CEO of a company like Google and Microsoft is getting paid millions of dollars, why not pay a similar salary to those who govern a whole country! Makes sense, right?
I was going through the salaries of Indian politicians, and I found their salaries to be so less. A computer programmer with 5-8 years of experience would make the salary of the Indian Prime Minister (Rs. 1,50,000/month according to Wikipedia)
You might argue that they get a lot of perks and allowances. But, even a sales head of a company gets to travel in business class, have all his/her expenses taken care of.
I was also going through salaries of other countries, including Singapore, which was mentioned in the book. If a small country like Singapore could offer US$1.7 million to their prime minister, why can’t a big country like ours could do it.
Also the system can be tweaked a little bit.
Every minister should be given the entire amount that is allotted for their department and they should find the best and efficient way to fulfill all the objectives provided by the government. By the end of their 5-year tenure/every year, if they’re left with enough money, they can keep a part of it for themselves and return the rest to the government. More like an incentive for doing a great job.
Also, if a minister works hard to start a textile mill somewhere, why not make him a stock holder and send a small share of the company’s profit every year.
With so much cash incentives politicians would want to establish more projects and will also work hard to complete the projects. This will bring the best to the people, and will also benefit those who are in power. A win-win situation.
Some might argue that already a few are looting money saying that they’ve laid roads and built dams, etc. But, according to me, every system has its own pros and cons. But, trying doesn’t hurt.
This is just a vague idea I got when I read the article. It would be great if we could a try a version of this. Who knows! This might change the current Indian political scenario.