“The people you mentioned sure benefit,but to how much degree.Some of the bigwigs hire movie stars & dancers to perform at their weddings-these persons & their associates end up earing close to over 50,000USD for a 1 hour performance.How much do the chefs,janitors & others make??They would be very happy if they can make 5,000 USD in 1 year.”
No wonder your name is Sukhoi-30mki. Your view of economics is basically socialist.
Think of supply and demand - yes, a Bollywood star might earn $50k USD for a 1 hour performance. That is because there are only a few Bollywood stars and they are in high demand. Millions of people can perform, but they won’t be nearly as interesting.
On the other hand, $5000 a year is pretty good in India where many people earn less than a dollar a day such as in rural areas. Supply and demand... there are many millions who can make a decent idli or channa masala or whatever they are serving.
The Bollywood star who earns $50k, what do they do with it? They buy goods and services, moving the money throughout the economy.
I suggest you buy a book on microeconomics. Preferably by Milton Friedman or Thomas Sowell, though Adam Smith’s Wealth of Nations will do just fine, too.
Your argument loses its worth once you start with the namecalling.I’ve read Milton Friedman’s works more than a handful of times.I suggest you familiarise yourself with the economics of marriages esp. in Northern & Western India & how vulnerable persons working in that section of the hospitality sector are.Do you know about the scores of musicians,cooks(not chefs) & domestic helps who are languishing without work because persons are spending more & more on spicing up their weddings hiring a few niche specialists??Do you know about the appalling conditions that such lower end workers live in.FYI,channa masala is out,multi-course global cuisine seems to be the craze.
About the Bollywood stars,do you mean those same people who buy their cosmetics & jewelry from Dubai & London?Who shoot 75% of their movies in Switzerland,Manhattan & Singapore??What employment have they generated,other than allowing the Indian mafia to go legit??????
Your argument loses its worth once you start with the namecalling.I’ve read Milton Friedman’s works more than a handful of times.I suggest you familiarise yourself with the economics of marriages esp. in Northern & Western India & how vulnerable persons working in that section of the hospitality sector are.Do you know about the scores of musicians,cooks(not chefs) & domestic helps who are languishing without work because persons are spending more & more on spicing up their weddings hiring a few niche specialists??Do you know about the appalling conditions that such lower end workers live in.FYI,channa masala is out,multi-course global cuisine seems to be the craze.
About the Bollywood stars,do you mean those same people who buy their cosmetics & jewelry from Dubai & London?Who shoot 75% of their movies in Switzerland,Manhattan & Singapore??What employment have they generated,other than allowing the Indian mafia to go legit??????
Or here is a far better idea.Why don’t you care to spend a few months(not days,but months) esp. from Mid October till mid February,when the marriage season in Northern India is on.You can see for yourself about whether your supply & demand theory works so perfectly or not.