Quote:
Thats another way of pumping money back into the economical cycle. Thanks to Mittal.
I really appreciate your positive way of thinking.
However, think of this. Most of the money might be spent on wedding location (a castle in Paris) as well as expensive caterers & designer clothes. So most of the money still remains in the upper strata of society e.g. fashion designers, cooks who serve the upper class. If you consider the entire "food chain", how much of this 60 million reach the lower level of society.
Think of the amount of labour required in making say 300 dresses each of $30 worth versus amount of labour required for a $9000 designer dress
May be, I am thinking too much from a socialist view point
Meghal
Posts: 661
Location: in the heart of Mrs Saga
Posted on: 03-04-06 01:18:06
Location: in the heart of Mrs Saga
Posted on: 03-04-06 01:18:06
Quote:
Originally posted by meghal
Quote:
Thats another way of pumping money back into the economical cycle. Thanks to Mittal.
I really appreciate your positive way of thinking.
However, think of this. Most of the money might be spent on wedding location (a castle in Paris) as well as expensive caterers & designer clothes. So most of the money still remains in the upper strata of society e.g. fashion designers, cooks who serve the upper class. If you consider the entire "food chain", how much of this 60 million reach the lower level of society.
Think of the amount of labour required in making say 300 dresses each of $30 worth versus amount of labour required for a $9000 designer dress
May be, I am thinking too much from a socialist view point
Meghal
Even if Mittal spent 60 million $ on his daughters wedding, this 60 million is just be a very small fraction of his total wealth and assetts. From my observation and experience I have seen an average Indian / Asian father spending 40-60 percent of his total wealth and assetts on his childs marriage (in some cases even more than that).
And I still think the money reaches the lower parts of the society (perhaps not all of it). A fashion designer (for example) will also spend his money somewhere, and think of him as a small "Mittal" also creating jobs and utilising service by spending his money by employing further people, and they further employ other people.
If there are no poor (lower class) people, then there are no rich people either......Ironic, but thats how life and laws of nature are.
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Deal With Reality or Reality Will Deal With You
Son: Father how much does a wedding cost?
Father: I have still not stopped spending, I will tell you when it all totals up.
