Wednesday, October 19, 2016



A visitor was explaining a story of a lady in Ahmedabad. She had made a purchase of ₹1.5 lakh from his shop, but was carrying ₹100,000 in pocket. She requested the counter boy to collect the difference from her home. The boy telephoned the shop owner and after knowing her credentials of frequent buyings from the shop allowed the boy to collect the money from her home. The boy, following the lady went to her home. The lady went inside but her husband and her son were waiting for her at the entry gate. When the boy explained his purpose of visit of collecting ₹50,000, both the males explained the shopaholic condition of the lady. Everyday she picks up cash from the cupboard and go for shopping. She doesn't know what she bought yesterday or day before. Just buying and dumping the bags in the house. Her husband has to keep some money in her cupboard everyday. Otherwise, she would disturb the peace of the family. The family had lost their bank balance and were tired of her psychic behaviour. Both the males requested the shop boy to carry the bags of the goods she has purchased and return as much as money he can from the paid amount of ₹100,000.

This is a psychological disorder called shopaholic, an addiction to shopping. It is also called CBD (compulsive buying disorder), an uncontrollable, irresistible urge to buy excessive and expensive goods. Some people make credit cards available to their wives but if she is oniomania, the guy has to destroy the credit cards to avoid bankruptcy.

Modern world is a world of consumer lead GDP. People stimulate their desires, earn and spend. Those invested in 1980s in land become billionaires in 2016. Some empty pockets investor entrepreneurs borrowed money from the lender at 24-36% interest rates and invested in lands in 1985-86 became billionaires. The lenders level went down and the users of their currency have gone up. The value of money went down under the inflation, but the prices of land shot up 1000 times!  One guy bought a land in Surat worth of ₹80,000 in 1988, today the value of the land is ₹800 million. A man purchased 125,000 Sqm land with some sheds by paying ₹30 million (that too from the borrowing) in Mumbai in 1986, today the land value is of ₹7 billion. When we were preparing for IAS, they were buying lands through borrowing!!!

The Surat diamond traders have grew up through the bank finance. Those continued in diamond business grew well but those invested profit of the diamond business into the lands become very rich. No higher education, no rocket science, no harakiri, just they took one decision at one fine moment to purchase land and their life style changed. They live in billions. What do they do? They may spend money on food, house, cars, home appliances, interiors, hotels, travels, functions, ceremonies, charity, donations, etc. Suddenly a society or an area picks up the value as status symbol. Coal mines becomes diamond mines. And the prices just go on increasing under the rule of high demand and low supply. The female family members of such families have nothing much to do except to do shopping in the malls or to do online shopping. Shopping becomes a status symbol for some families. But there is a risk involved. Some people may become shopaholic. Till they family is in a condition to put the currency daily in the cupboard of the shopaholic, the family peace can be maintained, but the day they drain out, the trouble starts. The life become miserable.

With the growth of economy, many people earn more than they need. If they save in Banks, there are Malyas to use the bank money. Some of them spend more beyond the need of good quality of life. They or their family members become shopaholic to some extent, may be in the range of 10-100%. It is good for the society as a whole that the currency move from the rich pockets to the poor pockets. If all do savings and nobody spends, then how the economic activities are generated, how the employment opportunities are created and how the better quality of life to be provided to the people at large. 

Modern age is making the farmers also smart. They sale the high value lands in millions and buy new and more land in thousands little away and hold it for sometime. Again the thousands become millions and they move further. The GDP is going up with the spread of people in urban conglomerates. 

Ancient Sanskrit proverb of Charvak was Rinam kritva ghritam pibet, yavan jivet sukham jivet. (Live in happiness so long you have a life and enjoy all comforts and luxury of life (like eating butter) even if you have to take a loan). But it is changed in modern growth context. Yavan jivet sukham jivet, rinam kritva bhoomi krinite. (Live the life in happiness, borrow the money and buy lands, the butter of life will flow automatically). Lol

But beware of the shopaholic tendency of your spouse? Your Credit Cards may turn into debits. Butter may be replaced with quarrels. Lol

19 October 2016


  1. Sure.
    This is why Patels of Surat became very rich despite low literacy rate.


Powered by Blogger.