Keep it simple
It is so simple to be happy, yet so difficult to be simple.
Saturday, March 05, 2011
Do I really need this?
Saturday, February 26, 2011
Mr. Prime Minister
Dr. Manmohan Singh commands respect as an economist and an administrator. His detractors call him a weak prime minister, but given the kind of choice presented to the country, he was, by far, the best that we could have had. But, even with his wisdom, I see at least two major flaws in his economic and political approach.
His basic economic principle for running the country has been to promote growth, leading to increased revenue for the government and use this increased revenue to provide welfare and social security services for the poor. The thought behind the idea is benign but the idea itself can have a lot of adverse consequences. Unbridled capitalism of the American kind leads to increased inequality (even the most simplistic models of capitalism show that when people can use money to make more money, the rich get richer very fast). This inequality of control over the capital in the country will lead to the concentration of power into the hands of a small number of people who will then be able to manipulate public policy, either through bribes or lobbyists, to favour their concerns rather than the concerns of the society as a whole. This is all the more dangerous in India, where a large number of people have to struggle for the most basic needs like food and security and hence are not in a position to make their concerns heard. A much more effective approach is to concentrate the state's resources on providing services like health, education and governance much more effectively to the people with the existing resources at the government’s disposal. Once people don’t have to struggle for their basic needs, they will demand their rights and will be better placed to use the power that democracy bestows upon them.
The recent economic survey shows that government expenditure on health is a pathetic 2 percent of GDP. With India languishing below neighbouring countries like Sri Lanka and Bangladesh in most health indicators, I find the government’s expenditure strategy inexplicable. The fact, as shown by statistics, is that good health is a prerequisite for economic prosperity and not the other way around. So, I hope Dr Singh gets his priorities right, sooner rather than later.
I also have serious objections to his statements about compulsions of coalition politics preventing him from doing the right thing. He asked the reporters if they would rather have elections every six-months. The truth is that no one, not even the coalition partners want quick elections. Dr Singh could well have pressed for what he wanted, like he did with the nuclear deal against the left, but chose not to. He has to take responsibility. We are not responsible for the circumstances that surround us but we surely are responsible for the actions we take under those circumstances. At the very least, I would expect the Prime Minister to realise his folly and understand that doing the right thing is not necessarily bad politics.
Saturday, February 05, 2011
United States of Economics
Economics research, like many other fields of study, is dominated by one country. The US produces most of the published research and most of the top researchers in economics. But along with being the biggest source of economic research, it is also the biggest topic. A disproportionately large fraction of journal articles in top economics journals is about the US. The fact that only 4 Nobel Laureates in economics have been from the “developing” countries may not be as important as the almost complete dominance of America (with a small role for Europe) over the economic discourse. The economic activities of 5% of the world’s population garner the attention of the world’s top economists, while whatever happens in the rest of the world is of little consequence to them and the field.
The place where this bias can be most dangerous is in education. Most standard economics textbooks are written by Americans and thus, not surprisingly, talk about the US. The chapters on Central Banking are about the Federal Reserve and the ones on policy are about Anglo-American style liberalisation. Economic theories are, because of their strong assumptions, highly context dependant and economic policies that are copy-pasted from the US are unlikely to work in a different environment. Some enlightened members of the economic community have started to realize this but have had great difficulty in making others see the light. They cry out loud that Singapore, where land is owned by the state, has performed economic miracles; that the Welfare states of Scandinavian countries have led their countries of the top of every index measuring the standard of life; that publicly owned companies, like Statoil, could also be efficient. Unfortunately, these members are few and far-between and have so far failed to break the hypnosis of US-centred economics.
People in countries like India still accord great value to foreign education without realising that economics education in the US (or even the UK, as I have discovered) introduces a bias favouring the Western economic system. That is why we find so many foreign educated economists returning to India and, guided by what they think are universal economic “principles”, zealously launching economic crusades to achieve the holy grail of the American economic system. The damage that they have caused so far is reflected in increasing inequality and alarming environmental degradation, and if they are allowed to continue the Americanisation of India then the results might be irreversible.
Friday, August 20, 2010
What's the right thing to do?
I had stopped thinking about morality at some point without even realizing it. Although, we are regularly confronted by these choices that require us to pronounce moral judgements, we don't often think about where these moral inclinations come from and what, if anything, forms the basis of these pronouncements.
Sandel, in the first of the 12 episodes online, draws the distinction between consequentialist and categorical moral reasoning, essentially a distinction between ends and means. He throws up quite a few moral dilemmas and seeing that in most cases there was nowhere near an absolute majority for any of the moral positions, reaffirmed my belief that there is no absolute right or wrong and that each person has their own moral beliefs. But that being so, we still need to think about those beliefs, question and analyze them, as when those beliefs are tested in unfamiliar circumstances, we may ourselves be surprised by the results they lead to. As Sandel says "Philosophy teaches us and unsettles us by confronting us with what we already know."
I also liked the fact that he warns against the results of such self-scrutiny, in a sense affirming to some extent the adage "ignorance is bliss", but then there are some people, and I guess I am one of them, who would rather have the pain of knowledge than the bliss of ignorance. Sandel says, "Self knowledge is like lost innocence, however unsettling you find it, it can never be un-thought, un-known."
I think I also gave him some plus points because of the way he summarizes, with a hint of disdain, the attempts made by Calicles to dissuade his friend Socrates from philosophizing and make him adopt a more "meaningful" life. Sandel says that Calicles was essentially saying, "Quit philosophizing, get real, go to business school." I loved that one. :-)
I am completely hooked on now and am definitely going to take the full course, and I think you should too.
Monday, December 14, 2009
Freedom
"I want to break free..." - Queen
Wednesday, August 26, 2009
ANDE
So, what happened was this. I had been at home for the past week as my mother had come down. The day before yeaterday, I was driving her down the highway to the airport, when all of a sudden my car went out of control. The brakes weren't working and the car was not responding to the steering wheel. It went and hit a car in front and then swerved to hit the median where it finally came to rest. Fortunately, there was no injury to anyone. But the moments where the car was out of control were exhilerating. It felt like having a cold shower on a chilling December morning. All my senses were tingling, taking in each stimulus like they were drops of life-nectar itself. Those few moments shook me out of the slumber I had been in for the last few weeks.
Things are a lot clearer now. The priorities in place. The path ahead visible, albeit a little nebulous. The mind is energised with an excitement that can be likened to the first time you step out of home and into a college hostel. The possibilities seem endless. The things you were struggling with so far seem so petty, so unimportant.
This is not the first time that I have felt that my life is going to change. But everytime I have felt like this, life has changed. It makes me feel like a strange mix of peace and anxiety is swirling around inside me. The time for action is here.
Saturday, July 18, 2009
The more things change...
Well, as always, I have started writing the blog only to realise that I don’t have any ideas on what to write beyond the first few lines. So, I will use this time to put down my very own “bucket list”
Things to do before I die
1. Write a book
2. Play at a rock concert
3. Learn mountain climbing
4. Visit north-east India
5. Be jobless for one month
Now that I have put this down, these five things are circling around my head (much like canaries circling around Tom’s head after Jerry has made him crash into a cupboard full of utensils) and making me think along the lines of doing a reverse jigsaw puzzle, where I try to re-arrange the frame my life so that these little pieces can be fit into it. Having recently gone through a major life changing experience in the parallel universe where I quit my job, I see that in that universe, I was able to at least attempt all of the above. Hence, having gone around the proverbial circle, I will take this opportunity to jump to the centre and view things from a radial distant.
I had been thinking of quitting my 9 to 5 (officially of course, actual is more around 7) and taking some time out to think about what I should be doing. Then I thought that maybe I should first think and make up my mind about what I want to do and then think about quitting. Now, thanks to this post, I am again thinking along the earlier lines. You must think I am pretty crazy, but I believe this mental condition is not so rare and is commonly described as too much thinking.
Although the thoughts have been changing, the confusion and the indecision have remained unchanged. And they have remained like that irrespective of whether the thoughts are about choices related to professional, personal or moral issues. It feels like the clarity of decision is inversely proportional to how much the decision affects you. Hence, even as the road of life leads us through myriad landscapes, the dreaded fork can always be expected to crop up at the crucial moments. It is like a cheap video game which loops the same game sequence with changing backgrounds. So, as one goes farther down the road, one realises that the more things seem to change, the more they actually remain same.
PS: I derive a lot of satisfaction in doing this kind of… circular referencing, for the want of a better term, in linking the end of a piece to the beginning. Also, substituting what should be a literary term with a term from an MS Excel error message, shows where I have been spending most of my time and also validates my current line of thought.