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Economic Growth - A Challenge to Maintain Poor Man's Consumption Basket: Neglected Aspect of Sustainability

As an economy treads along a higher growth path, some sections of people enjoy more than proportionate rise in income. This increase in prosperity changes the demand pattern in the economy and by the market mechanism, production of goods used by the prospering sections goes up. As requirements of resources to produce rich man's consumption item is often more than that for low income people's consumption item, supply of poor man's production items may fall sizably in the process. This paper considers Indirect Houthakker's Addilog Utility Model and constructs a theoretical model to bring home this particular problem of growth. As an illustrative example the model considers an essential item like rice, where average land requirement of aromatic rice is greater than that of ordinary rice. As income level of some sections of people rise, demand for aromatic rice rises and hence there is shift of land from the use of ordinary rice production to use of high quality rice production. As a result, total production of rice may decline at some stage. The model identifies factors that determine the possibility of such fall in total production and highlights the critical level of production of high quality good wherefrom decline in total production begins. The paper also looks at the policy issues in the backdrop of findings of the theoretical model.