Saturday, May 29, 2021

Fauqul Chacha and Family Help

I knew them both and their father Fauqul Hasan Zaidi. Fauqul chacha will regularly drop at our place for morning tea with my father and mother during his break journey on his way from his home in F-6/1 to his office in old state bank building which was being used as parliament building temporarily during 1970s. Had heard of wonderful stories of his adventures in Bengal and in Northern Pakistan

We are greatly indebted to marhoom  Rashid Bhai s/o Fauqul Hasan Zaidi for his great support and help in arranging the logistics of wedding food arrangements of my two eldest sisters Farida apa n Ghufaira apa. Farida apa with Rafi Uddin Haider in 1975 and Ghufaira apa with Misbah ahmed Zaidi s/o Fiza A Zaidi in 1977. I was in school during those days. There didn't use to be caterers of the type available today who do everything and just deliver the food on time at the event. In those days there used to be only cooks (bawarchi).  It was the responsibility of event organizers to arrange for utensils, gosht, chawal, masalay, ghee,....  Individually each ingredient had to be purchased separately, utensils rented, cooking burners set up and made available at the site. Cooks would simply come on the day, prepare n ground masalay and cook the food. Food was prepared at site by the cooks.
The entire food logistics of the two marriage functions was supervised by Rashid Bhai the great. May Allah give him the best of abodes in the hereafter. Aameen

Rise and Fall of Dictators and Kings: Delusions of Grandeur by Neocolonialism Forces

Last Shah of Iran

How the kings are installed and propped by the great powers;

Just finished seeing this BBC documentary about the shah of Iran whose pompousness we grew up with. I remember waiting for hours on the Chaklala road to airport in 1967 to catch a glimpse of the motorcade. But, I was too young (around 5) for the wait, and left early and later came to know that his motorcade has passed. Witnessed Murree Road being renamed as Raza Shah Pehalvi Road and after his debacle again being renamed Murree Road. There was such pomp and show in the newspapers about his his 2500 years coronation ceremonies, read about the intrigue and the stories of his previous wives and current wives in Jang. Also, saw the yearly pictures of his heir being groomed to take over his crown. The heir's ascent was short circuited by the Iranian Revolution. The documentary made me recall the stories of the womanizer and drunkard Yahya peeing in the flower pots during the coronation celebrations, and getting slapped by a lady in the royal feast. Recalled the stories of lavishness, blind following of the West, and the wholescale adoption and imposition of foreign culture on the poor Iranians. Western powers that brought him also left him high and dry after the revolution when he was moving in his airplane from country to country till eventually  was sent to Egypt to spend his last days. The daily stories of scores people being shot after the revolution reminded me of the reign of terror in France after the French revolution. 

The king was a fool made to think that he had divine right to rule, propped by US/British advisors, bent upon robbing the aspirations of poor third world countries. How this project of "modernization' at the expense of people's aspirations gets implemented. It reminded me of the puppet Last Emperor of China. How history and reality catches up with reality. Now people don't even remember or recall his artificial glory. 

Idi Amin:

The pomposity with which he came to the Islamic Summit in 1973. We thought as children then that he was much cherished by his people. His rise and fall happened in front of my eyes in the 1970s. His portrayal in Last King of Scotland tells us of the artificial pomp of the dictators, shahs and sheiks propped up by Western powers to satisfy their neocolonialism agenda. When a few years ago I went to Uganda I realized how destructive these stooges are in the developing countries. The plight of Idi Amin in an Egyptian hospital where he breathed his last was well captured by Javed Chaudhry in one of his columns. https://m.facebook.com/permalink.php?id=474290666706912&story_fbid=491247315011247


Anwar us Sadat



Qaddafi



Hosni Mubarak



Saddam Husain



Gen Ayub



Gen Yahya



Gen Zia



Gen Musharraf

Saturday, May 22, 2021

Leadership Style of Imran Khan as Cricket Captain and as Prime Minister

Imran Khan leadership style:
Is IK trying to run the country exactly as he ran the captaincy of Pakistan cricket team?  Favoritism in picking up players, holding of personal grudges against fellow players, and being vindictive against those who dared to disagree with him. Habit of making arbitrary and adhoc decisions, which worked in cricket because cricket is largely a game that depends too much on indidual brilliance. Cricket is a game where a team's spectacular performance is often a chance; a coincidence of glorious uncertainties when a few individuals happen to click together to produce scintillating results....

A comment on the following Pic of my post :
"It is reputed that during 1992 world cup, he had personal grudge with Jawed Miandad. He did not take him in his team. When Pakistan lost first three round matches, then he called Miandad. He had ruined the careers of Basit Ali, Qasim Umer and many others. He is considered to hate Karachaits. Very highly egoistic. He always promoted the players who belonged to Punjab. He is still maintaining the quota system, whereas he gives the examples of meritocracy. "
Need references to this quote above.

" Reading the earlier of his two autobiographies suggests that Imran was anything but a pleasant youngster. He seems to have been petulant, arrogant and a very bad loser, something at which he had plenty of practice where cricket was concerned. "
[From Imran Khan: Made in England by Martin Chandler https://www.cricketweb.net/imran-khan-made-in-england/]

" Imran was honest enough to write of himself; The 1971 tour party to England contained one player who must surely rank as the rawest, most conceited cricketer ever to represent his country. At the start of the tour he had problems with his run up and found it difficult to control the swing of the ball in English conditions and after just eight expensive wickets he was in no form at all going into the first Test. In fact had it not been for injuries to Salim and Sarfraz he would have been nowhere near the side and he was selected only by dint of Pakistan quite literally having no other option." [Source IK's first book]

Disclaimer:
No one is disputing IK's individual brilliance in bowling (especially his in cutters) and his batting. I have also been his admirer as a cricketer. Here we are only comparing IK's leadership style as the captain of cricket team and his leadership style as a PM. There are several common traits of his personality that are now visible and also comparable.

My Interest in Cricket:
I have been listening/watching cricket since 1972. Have read all cricket related news from 1973 till 1990s published in Dawn and Jang. Had a collection of The Cricketer magazine of 1970s and 1980s. I have read books written by Bradman, Illingworth and also Imran. I was listening to international test matches worldwide on shortwave radios in 1970s and 1980s. For example, I listened to centenary test between England and Australia in 1976-77 where Randall scored a century. Used to go regularly to British Council to read Cricketer International in 1980s. Have read several articles of famous cricket writers such as the legendary John Arlott. I used to have a collection of urdu cricketer magazine. Watched and followed Kerry pecker saga.l of late 1970s where IK blossomed. I read about IK's learnings from South African Mike Proctor and others. Remember this was all pre internet/YouTube...there after the match fixing turned me off the cricket.

Sunday, May 16, 2021

How Legacy is Transmitted over Generations: Case Study of Ikram Hyder

During lock down I was organizing the old stuff left by my father. In that I found some papers in old dilapidated state, crumpled. On closer inspection I found them belonging to my grandfather's father. Till this time I had only seen a Pic of my grand father's father in a Pic of my father's graduation in 1930s. The person in white beard. On greater inspection I found that he belonged to naqshbandi silsila. in those papers there were his منظوم صوفیانہ کلام dating back to 1880s. The Kalam is in Arabic, Persian and urdu. It has been a great excavation and curating experience. No one in the family today seemed to be aware of this treasure or the spiritual life of my grandfather's father. My father did not share this and we did not ask him. He had been too reticent about his life before partition. It was too painful. But now I could see the connection of ethical and spiritual values of my grandfather's father with the strong character, truthfulness, morals, principles of my father, uncle, and three of my father's cousins standing in this Pic. I could see the strong influence of these values in their life with this lineage. I can now connect many of my personality traits with those spiritual teachings which I stumbled on in these papers. I could see those values  alive and kicking within my siblings and cousins....


Life is insignificant (in khasara) except for those who believed, did good deeds, promoted Haq and enjoined sabr. The good deeds and tarbiyat of our parents spreads through our actions and good deeds and the tarbiyat that we do of our children. We may not know the name of our great grandfathers, but their legacy of good deeds got transmitted to our grandparents and from them to our parents and from them to our children and inshallah to our children's children and then on and on, inshallah. Names and places are forgotten by mortals but the good deeds live on and their contribution would be counted and tallied on the day of judgements by the omniscient Allah.

Saturday, May 15, 2021

Visit to Baba KhorwaRi Shrine Ziarat

Mahmood Zaidi
I had a similar experience in 1983 in ziarat with our NED class fellows study trip. About 5 of us got more excited and ventured towards Baba kodwari's Mazar via mountaneous trek through a forest. We were told that it was a 20 minutes distance rural distance. We went along for 30-40 minutes. Each wayfarer we asked told us that it is a few minutes ahead. Those few minutes on and on became another half hour. Around 245pm we asked a person, he looked at the sky which was clear and his watch. Then he advised us to return as there would be stormy rain at 3pm. We ignored him. But in around 5 minutes there were ominously threatening clouds moving over head. We got scared by the thunder and decided to return. Lo and behold as we neared 3pm it became dark and we started running. At 3pm there started  vicious rain. The trek path soon resembled a stream and then a torrent. We ran as fast as we could. By the time we reached the road, we were thoroughly drained, drenched, and fighting for breath...
Rest is another story

Wednesday, May 12, 2021

Economic Hit of Pakistan: CAD Focus vs GDP Neglect

CAD focus vs GDP neglect (IKnomics Hit) :
"کرنٹ اکاؤنٹ خسارہ" CAD:  ایک صاحب کی دکان خسارہ میں چل رہی تھی- ایک دن انہوں نے فاتحانہ اعلان کیا کہ پچھلے مہینہ انہوں نے CAD خسارہ پر قابو پا لیا! پوچھا وہ کیسے؟ فرمایا "بڑا آسان تھا، بس دکان بند کر دی، تمام ملازمیں کو فارغ کر دیا، تمام ضروری اور غیر ضروری اخراجات بھی ختم کر دئے، کرنٹ خسارہ زیرو!"

جی ڈی پی GDP گروتھ:
ایک صاحب کی دکان خسارہ میں چل رہی تھی- ایک دن انہوں نے فاتحانہ اعلان کیا کہ انہوں نے CAD خسارہ پر قابو پا لیا! پوچھا وہ کیسے؟ فرمایا "بڑا مشکل اور تکلیف دہ تھا، میں نے ایکسپرٹس سے مشورہ کر کے اپنے بوسیدہ سسٹمز کو تبدیل کرنے کا فیصلہ کیا، اس انویسٹمنٹ کے لئے مجھے  قرضہ لینا پڑا جس سے نئے سسٹمز خریدے اور دو سال لگا کر تمام بوسیدہ سسٹمز تبدیل کئے، فضول اخراجات ختم کئے، پراسیسز آسان کئے، اب میرے کسٹمرز بھی خوش ہیں ان کو بہترین پراڈکٹس کم قیمت پر، کم وقت میں آسانی سے دستیاب ہیں، کاروبار میں اضافہ ہوا، نئی پراڈکٹ لائنز شروع کیں، ملازمین کی تنخواہوں میں اضافہ ہوا، نئے ملازمین کو جاب دیں،  کرنٹ خسارہ منافع میں تبدیل ہو گیا!"
Over the last 3 years IKnomics policies has crippled the economy whilst propoganda machine trumpets false economic principles related to magical properties of CAD while denigrating GDP.

Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, GDP functions as a comprehensive scorecard of a given country's economic health. It encapsulates growth in economy due to growth of business, production, services, and the resultant employment opportunities.

On the other hand, Current Account Deficit or CAD is the difference between the money coming in due to exports and the money going out due to imports. It is no where in world  used as indicator of economic health of country. CAD only tells you about the ability to service external debt, as such it is only in Pakistan's IMF dictated "IKnomics" that CAD was used for measuring health of Pakistan economy during first 3 years of IK with disastrous consequences.

The single minded focus on IMF CAD related policies were responsible for the crash of GDP from 5.8% to - 0.4%, reduction in jobs over the last three years by over 5 million, and increase in inflation (too much money chasing too few goods), and hemorrhage of economic sentiments.

IK should have curtailed luxury imports without impacting raw materials for our production. Instead of clamping down hard on smuggling and significantly increasing duties on luxury items, IK tremendously increased the exchange rate and utilities costs while simultaneously going after the small and micro businesses, which resulted in decrease in production and increase in prices of all  the inputs, increasing the prices of outputs, reducing the viability of many businesses and their shutting down. 

Ability to service debt is measured as a percentage of the productivity of economy (i.e GDP). A country with high GDP growth can sustain larger debt. This is similar to a person earning 100k can service a larger debt than a person earning only 10k. There are several countries with higher debt to GDP then pakistan but that is not a problem for them. For example Japan has around 200% whereas Pakistan is around 50%. Over here IK increased the policy rate to 13.5% that made the local debt servicing the largest single item of our expenditure around half of all expenditure even more than military expenditure!

One must read the history of how government investment in infrastructure (GDP growth ) got USA out of the global Great Depression. This came to be known as Keynesian Economics that is taught in every Economics 101 course in the chapter on overcoming recession. See this 
https://www.popularmechanics.com/technology/infrastructure/a24692/fdr-new-deal-wpa-infrastructure/

How Economic Hit through policy rate increase happened

How Economic Hitmen duped IK's policy to astronomically increase the loan interest burden on Pakistanis. 

1. By increasing the policy rate from around 5% to 13.5% after tabdeeli, IK government doubled the interest payments (markup expense) to nearly half of the total expenditure. That is double of what was being spent during previous regime. 
2. Markup suddenly became the single largest outlay even more than the entire military expenditure and military pensions. 
3. To compensate for this, government had to stop/slow down all development expenditures, was forced to increase the utility rates and petrol prices, thereby severely decreasing the GDP and employment. 
4. SBP demand based rationale was that higher policy rates will reduce inflation. However, inflation in Pakistan skyrocketed to around 12-14%. SBP demand rationale was contrary to the cost rationale emerging worldwide where countries like Brazil had by decreasing the policy rate decreased their inflation. Ironically , SBP website shows research papers which also establish that Pakistan's inflation will decrease with decreasing policy rate. 
5. The myth sold to Pakistan through the Economic hit media brigade that Pakistan has too much debt. This is again contrary to the fact that many of the countries around the world have even hundred percent to 200 percent debt to GDP ratio, and they are not having such problems. Analysis shows that it is not the higher debt, but the higher policy rates which creates the burden. Most of the countries that have higher debt to GDP ratio than Pakistan have policy rate of less than 2% , in some cases even negative policy rates. Pakistan suffered because of high policy rates not because of high debt. 
Do you know that yearly pensions expenditure of government is as large as the yearly civil government expenditure.

یہ کسی صحافی یا نو آموز سیاستدان کے سطحی خیالات پر مبنی رائے نہیں، عرصہ دراز تک لٹریچر کو پڑھنے، سمجھنے، اور خود سے تاریخی ڈیٹا کا تجزیہ کرنے کے بعد پوری ذمہ داری سے لکھا گیا تبصرہ ہے۔ اس میں مذکور ہر انفارمیشن کی صداقت ثابت کرنا میری ذمہ داری ہے، اور اس مختصر نوٹ میں جن آرا کا اظہار کیا گیا ہے ان کے لئے دنیا بھر میں بے شمار واقعاتی شواہد موجود ہیں جن کا ثبوت دینا میری ذمہ داری ہے۔ اپنے اپنے حلقہ احباب میں جو لوگ سیاست یا پالیسی سازی میں کردار ادا کر سکتے ہوں، ان تک یہ حقائق پہنچا دیجیے۔ اللہ ہمیں اس ملک کی بہتری کے لیے کردار ادا کرنے کی توفیق دے

ڈاکٹر عتیق الرحمن

1. پاکستان میں بجٹ اخراجات کی سب سے بڑی مد اندرون ملکی قرض پر سود کی ادائیگی ہے۔ اس مد پر رواں مالی سال میں 2631 ارب خرچ ہوئے، جبکہ آمدہ مالی سال میں اس سے زیادہ اخراجات کا تخمینہ ہے
2. اخراجات کے اس قدر زیادہ ہونے کی وجہ پاکستان میں سرکاری شرح سود یعنی پالیسی ریٹ کا بہت زیادہ ہونا ہے۔ اس وقت پاکستان میں پالیسی ریٹ 7 فیصد ہے جبکہ امریکہ میں پالیسی ریٹ محض 0.25 فیصد، اور تھائی لینڈ میں 0.5 فیصد ہے

3. اگر پاکستان میں پالیسی ریٹ امریکہ والی سطح پر چلا جائے تو پاکستان کو سود کی ادائیگی کے لیے محض 100 ارب کی رقم درکار ہو گی۔ یعنی 2500 ارب کی بچت ممکن ہے۔
4. سٹیٹ بینک اف پاکستان کے مطابق شرح سود بلند رکھنے کی وجہ افراط زر پر قابو پانا ہے۔ سٹیٹ بینک کے مطابق اگر شرح سود میں کمی کی گئی تو ملک میں مہنگائی میں بیحد اضافہ ہو جائے گا
5. سٹیٹ بینک کا یہ مفروضہ دنیا بھر میں غلط ثابت ہو چکا ہے۔ کرونا بحران سے نمٹنے کے لیے دنیا بھر میں شرح سود میں کمی کی گئی، جب کہ کہیں بھی اس اقدام کی وجہ سے مہنگائی میں اضافہ نہیں ہوا
6. سٹیٹ بینک کے پاس ایسی کوئی دستاویزی /تاریخی شہادت موجود نہیں جو یہ ثابت کر سکے کہ واقعی شرح سود میں کمی سے مہنگائی ہوتی ہے۔ پاکستان میں تاریخی شہادتیں اس مفروضہ کے خلاف ہیں
7. اس لئے گذارش ہے کہ سٹیٹ بینک کو اس بات کا پابند کیا جائے کہ وہ تاریخی ڈیٹا سے بلند شرح سود کی افادیت کا ثبوت فراہم کرے

8. اگر سٹیٹ بینک کے پاس ایسی کوئی دستاویزی شہادت موجود نہیں جو اتنی بلند شرح سود کی افادیت ثابت کر سکے، تو شرح سود کو عالمی معیار کے مطابق 1 فیصد پر لایا جائے

9. شرح سود کو 1 فیصد پر لانے سے 2200 ارب سالانہ کی بچت ممکن ہے۔ اس طرح ایک سال میں ہونے والی بچت دفاعی بجٹ کے دگنا کے قریب ہو گی
10. شرح سود کو کم کرنے سے سرکاری قرض پر سود کی رقم میں کمی کے علاوہ کاروبار کے لیے قرض سستے ریٹ پر دستیاب ہوگا، جس سے کاروباری سرگرمیوں کو فروغ ملے گا

Friday, May 7, 2021

Voting Machines- Is Technology a Panacea: Technology is as good as the people using it

کیا صرف ٹیکنالوجی لگا دینے سے ٹرانسپیرنسی و شفافیت حاصل ہو جاتی ہے؟

My dear PM, technology in itself is not a panacea. Technology is as good as the people using it! 

Taking on Challenging Responsibilities vs Trying to be a Superwoman

What is the problem with the following advice:
"Don't get too proud, she said, of your capabilities at handling anything — or soon people will expect you to handle everything. The world is always eager to find someone who can handle everything (because the world is lazy, and doesn't want to do the work) and soon you will be responsible for more than you can manage. You will be doing more than what is fair, or even sensible — and you will be doing thousands of things that you were never designed to do.

Don't get seduced by the idea that you are some kind of Superwoman — as much as the world wants to put that honorific upon you. (Telling women that they are superheroes is a trick the world has always played, for making women do all the work.)

Wednesday, May 5, 2021

Power of Psychological Assumptions in Matchmaking Processes

Power of assumption?
Match-making processes would be markedly different for society that assumes "you are mentally ill unless proven healthy" vs the society that assumes "you are healthy unless proven mentally ill".
This is similar to the power of assumption in law:
"You are innocent unless proven guilty" vs "you are guilty unless proven innocent" through due process.
The impact on behaviors, societal norms and management processes differ tremendously in societies using the assumption "innocent unless proven guilty" (simpler open fast processes of developed countries) vs 'guilty unless proven innocent (complex convoluted opaque tedious processes of developing countries like Pakistan).

Monday, May 3, 2021

Hill Park Karachi over the Years and Social Networks of Old Familiar Faces

ھل پارک 1975, PECHS, Karachi
 I went regularly in the mornings during 1995-2012 when my children were growing up. Feeding the ducks and climbing up and down the hilly slopes was the nearest to tracking/hiking children could get in Karachi. I also frequented it during 1980-86 during my engineering and MBA days, and even used to study there too . I still go there some times.
My Khaloo was a regular visitor of Hill Park with his children from 1970-88. While on visit from Islamabad to Karachi and staying at Khala's place in PECHS has some very interesting time there.

Sunday, May 2, 2021

Branding, Consumerism and Islamic Principles of Trade

مغربی کیپٹلزم کی اشتراکیت کو ضم کرنے کے بعد اس سے بڑی کیا کامیابی ہو گی کہ اس دو سو سال سے لڑنے والے مزہبی پیشوا خود کیپٹلسٹ کنزیومرزم کے سب سے بڑے داعی بن جائیں-
تاریخ میں کیپٹلزم سے لڑنے والے اب تک کے تمام نظام فکر لڑتے لڑتے خود کیپٹلزم میں ضم ہو گئے ہیں مثلاً اشتراکیت, 
 anarchist, socialist, religious and nationalist viewpoints, socialist tendencies (e.g. anarcho-syndicalism, social democracy and Bolshevism), philosophy of historical materialism, small-scale cooperatives and family businesses, and large-scale antitrust regulations,.... etc

 مغربی کیپٹلزم کی اس سے بڑی کیا کامیابی ہو گی کہ مغرب سے لڑنے والے اسلام کے پیشوا جو خود کو سید بادشاہ اور اسیر مالٹا کی روایات کے امین گردانتے ہیں وہ  خود کیپٹلسٹ کنزیومرزم کے سب سے بڑے حمایتی اور داعی بن کر سامنے آ رہے ہیں-

"We are all capitalists now!" 
Socialists admitted this after the implosion of Soviet Union & fall of Berlin Wall. Do Muslim scholars who have embraced capitalist consumerism can muster the moral courage to admit it too?

اپنے برانڈ کے پرچار کرنے والوں کو کس نے مجبور کیا ہے کہ اسلامی روایات اور سادگی کا درس دیں؟
کیپٹلسٹ برانڈنگ اور کنزیومرزم کا اسلامی روایات سے کیا تعلق ہے؟ ان کو کس نے مجبور کیا کہ سورۃ التکاثر میں " الھاکم التکاثر"[1] کا درس دیں؟ " لم یسرفوا" [2]  کا درس دیں؟ فویل.. الزین ہم یراءون "[3] کا درس دیں؟

احیاء العلوم میں غزالی نے cost plus pricing کے مقابلہ میں demand pricing (منہ مانگی قیمت) کے چند واقعات درج کئے ہیں جن سے اسلام کا مدعا ظاہر ہوتا ہے- جن میں بیچنے والا مُصِر تھا کہ اس سے مارکیٹ پرائس بہت زیادہ بڑھنے کے باوجود کم قیمت خرید پر جائز منافع کے ساتھ مارکیٹ سے کم cost plus پرائس پر خریدا جائے- [4]

مسئلہ تعیشات کو بیچنے، کاروبار کرنے یا پرائس فکسنگ  کا نہیں بلکہ مذہبی پیشوا کا سادگی کا درس دیتے دیتے اس کو برانڈ بنانا [5]، اس کا کنزیومرزم کے زریعے ان لوگوں میں ترغیب پیدا کرنا ہے جو افورڈ نہ کر سکتے ہوں.[6]، اور عوام کو خود نمائی اور دنیاوی دکھاوے کی ایسی دوڑ میں مبتلا کرنا ہے جو معاشرے میں ہیجان اور ڈپریشن پیدا کرتی ہے [7]، جو عوام میں ضرورت (needs) کا خواہشات (wants) سے فرق دور کر کے معاشرے میں زہنی بیمار پیدا کر رہی ہے [8] .. ..
References:
[1]...[7]

Sam Walton, ‏Ghazali's Ihsaan in ‎معاملات ‏ ‏and High-end Expensive Brands

There are several types of price setting strategies such as Cost Plus and Demand Driven Pricing. Walmart's success was built on cost plus pricing model. Sam Walton was the founder of the retailing giant of 1990s-2000s. In his autobiography "Made in America" published a few months around his death in 1992, he mentions the example of a toothpaste he was selling at around 2 dollars. He found a vendor who offered the same quality at around 55cents. Managers advised him to sell at around $1.20. Their logic was that Walmart buyers are used to buying this tooth paste at around 2 dollars. $1.2 is a significant decrease. However, he declined. He decided to sell at around 70 cents. His logic was that his CSR is providing consumers with lowest prices. Walmart slogan is "Everyday Lowest Prices". He said around 10% margin is as per his mission. The toothpaste was sold at 70 cents. He writes in the autobiography, while he was suffering from terminal cancer, that this book will come to haunt those who will try to meddle with his legacy. He was writing in the context of the question that what was his contribution to the social welfare of people. He said his mission was to provide his customers with the lowest price anywhere. This mission had made life easier for millions of mass consumers of USA. The benefits of cheaper prices that he had passed on to Americans is unparalleled.