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Individual Drawing Rights

BP Inani 
on 25 March 2021


Humans are the most intelligent primates considered to have cognitive and motivational skills to support each other. We define ourselves as a species intelligent enough to extend ultra-support to our own kind and a major reason to occupy the top-shelf of this animal kingdom.

Now the real picture - Have we ever looked at the skewness in wealth distribution across the globe? Have we ever seen an unequal distribution of resources of such a magnitude in any other species? Have we not experienced the wars, racism, killings and ill-feeling fuelled due to this skewness and misuse of wealth in humans? Have we ever witnessed such a behaviour in other animals? Have we ever seen greed taking over social behaviour in any other animal? Mostly NOT…However, we still proudly call 'Our race as an epitome in social behaviour'. - what hypocrisy!!!

Individual Drawing Rights

This skewness only increases as we move from developed nations to developing ones. And as if God also seems to have lost hope with this hypocritical Human-race that he works overtime and lo-we have Covid, which has fast-forwarded this skewness - a perfect recipe for infighting, genocide and annihilation of this race.

What should mortify humans is the fact that in the pandemic year 2020, on one hand, we saw mass population pushed to the brink of poverty, we also witnessed the wealth of the wealthiest in the World galloping at double acceleration. Wonder if we have two species within a species!! What a contrasting event horizon to give a preview of the future holocaust due to this unequal distribution - but the thinkers & lawmakers of our society are not perturbed, still.

Should we not have a concept that can address this time-bomb. I have a suggestion that might look crude at the 'Go'- but I believe that wise people reading this article will think, deliberate and fine-tune this idea. We all collectively might be able to suggest some workable idea to defuse this time-bomb before it becomes too late.

Well, in no-way 'Am I suggesting to strip the personal wealth of Billionaires who have worked so hard to create amazing ventures by their sheer hard work & intelligence”. Neither am I alienating myself from the great doctrine of private ownership. I am aware of how important this aspirational quotient has been to drive human progress on this planet. In some sense, I AM NEITHER A COMMUNIST nor will be one.


What I have to suggest is something else - maybe a hybrid model. What if beyond a certain limit - say 50 Million USD (the figure is not sacrosanct), any extra wealth that an individual or unit of the family possesses, gets converted into Individual Drawing rights vested with the State? I find it apt here to quote Jack Ma - one of the most successful entrepreneurs, Quote… 'Wealth up to say xx m USD belongs to you but beyond that, is not yours. You own the wealth in a fiduciary capacity. The mass believes you are a better custodian".  What an impactful statement of wisdom.

Such Individual Drawing Rights (IDR's) be considered part of the Private wealth of the individual/unit however vested with State. These IDR's should be allowed to be withdrawn whenever the individual insists - but with specific riders attached. Riders could be like creating a new venture, adding an employment avenue, scientific causes, educational purposes, medical purposes, bequeathing or other social causes and various other things that are devoid of any personal extravaganza. This list can be fine-tuned as society demands and grows. The IDR's should be made fungible (with riders) and can be bequeathed to the next generation as well (with some nominal inheritance-tax).

This concept of IDR's should have all the distinct advantages of private wealth without the nuances of socialism. Like


A) the IDR's are always counted as your personal wealth.

B) they are transferable to the next generation - a guarantee of continuity and ownership within family long after one's own existence on this planet.

C) it can be used as per your discretion except for certain riders. Also, on the other hand - IDR's resting with Govt should be counted as State reserve while dealing Globally improving the credit rating of the nation on the international arena. IDRs should be able to bring sanity to this skewness of wealth distribution (a.k.a wealth extravaganza) also - the original Time-Bomb we started with and that is expected to blow if unchecked now. 

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