.png "English"){kind=small}
The amalgamation of stagnation (a period of low level of output and economic growth) and inflation (a rise in the general price level) leads to Stagflation. The worst situation, currently, one of the greatest developing Indian economy is facing. It is veil from sight and the humans are unaware of it. We are at a point in time, when suddenly everything seems to downswing in reality, but we still don't agree and hold onto hope.
The growth rates coming out now looks stark, both at the state - level as well as the country - level. The humans have been differentiated by Econs (economists) as per Prof. Thaler and Prof. Sunstein. The problem, according to me, doesn't lie with the workings of the government, but instead in the workings and thinking of humans. As per an article I read in 'Morning Star', Samantha and David Cameron, had a sign in their home which read, " Calm down dear, it's only a recession". I know, both the above mentioned characters do not belong to our country, but their reaction is equivalent to ours. (Just in case you don't know who they are, please Google it). Continuing with this article, for these 'humans', they think economic crisis is a joke, and time heals everything. But, according to me, time is just a variable, which is inevitable. And the healing process comes in with 'humans' and the government needs to nudge the humans in proper way, without any exploitation.
The problem : Privatisation and the Capitalistic society. According to the papers written by Prof. Karl Marx and Friedrich Engel such as 'the holy family', these two great economists and philosophers argued that the profits which the capitalist firms are enjoying are not profits, they are called "exploitation", the exploitation of labors. This exploitation has been very much misunderstood by the young economic graduates these days in the sense that there is also the exploitation of nature as well, by these capitalistic firms. This results in both increasing poverty and inequality in income and wealth and the environmental exploitation which threatens us all. This boils down to the studies by environmental economics and behavioural economics papers.
Let's take a simple problem at hand and mention the nudge which should be done. The uber and ola Start-ups. The capitalistic firms have just one main objective of profit maximising, the secondary objective being customer satisfaction. These startups have very much exploited the natural process and there is exploitation at every stage of life. During winters, these automobile companies, still put on their air - conditioners, and the customers enjoy it. Here, what comes in is some Nudges and the government intervention in a positive way. The citizens above the poverty line are losing their sense of mind and are driven to a more luxurious and conspicuous lifestyle rather than a rational choice theory. One sort of nudge in this case would be to switch off the A.Cs during the times when the weather around us is cool and the government should take proper steps against those flouting the law : A fine, for example.
The citizens have become more irresponsible and are made to thought that the government is there for them and whatever happens, the government of India would come to their rescue. The diversion of the people's minds have been done in a much more planned way than our imagination.
For example, the upliftment of the Article 370 has led the government and big businessmen like Ambani, to exploit the whole of kashmir. Now, people will think, that the investments would create employment opportunities for the people of kashmir. Right? No, wrong! Think... That would be exploitation of their freedom, and in return for that you're giving them petty jobs. This would directly mean that the poors remain poor, while the Ambani's become more rich by exploiting and thus the inequality in the economy increases. They're happy with their lives. Money is not everything, it cannot buy happiness. The wealth - oriented definition by Prof. Adam Smith, simply goes down the gutter because one needs to understand that there are people who are earning less, but are happy, and we have no right to exploit their happiness. You cannot follow the wealth definition of Adam Smith.
If there happens to be an exploitation of kashmir as a whole, then I petty that this environmental problem which the world is facing will get worse and this is only because of exploitation by the capitalistic firms and their evil objective of profits.
Apart from this, the mind of the citizens have been restructured and the path of correct thinking has been in-versed into the concept of "one - nation", one - religion ": more like a divide and rule policy of the British government. Even then, we took it into our emotions and fought among ourself and the third party was benefited. And even now, the history is repeating. For example, with the slogan of 'Jai-Shri Ram' and mob-lynching coming into being, I've two questions popping up inside my head while writing this article. One, why isn't the government saying anything about this, if it wants the betterment of the Muslims and the social welfare maximisation. Second, what benefit will we get by forcing the Muslims to chant the slogan of "Jai Shri Ram". If we say it, their perspective about Allah won't change and if they don't chant, then we shoot the Muslims right on the forehead and you think you've accomplished a great deal. But, sorry, you've lost humanity. These stunts even 'Ram-ji' wouldn't have done it, which the Irrational people (mind it the people and not the Hindus as a whole) are doing. These are nothing but a selfish political stunts to get into our head and exploit our world of happiness. I would like to quote something from a book I'm writing : "We're tending towards corruption, rather than tending towards Correction". Just give it a thought! Adios...
The growth rates coming out now looks stark, both at the state - level as well as the country - level. The humans have been differentiated by Econs (economists) as per Prof. Thaler and Prof. Sunstein. The problem, according to me, doesn't lie with the workings of the government, but instead in the workings and thinking of humans. As per an article I read in 'Morning Star', Samantha and David Cameron, had a sign in their home which read, " Calm down dear, it's only a recession". I know, both the above mentioned characters do not belong to our country, but their reaction is equivalent to ours. (Just in case you don't know who they are, please Google it). Continuing with this article, for these 'humans', they think economic crisis is a joke, and time heals everything. But, according to me, time is just a variable, which is inevitable. And the healing process comes in with 'humans' and the government needs to nudge the humans in proper way, without any exploitation.
The problem : Privatisation and the Capitalistic society. According to the papers written by Prof. Karl Marx and Friedrich Engel such as 'the holy family', these two great economists and philosophers argued that the profits which the capitalist firms are enjoying are not profits, they are called "exploitation", the exploitation of labors. This exploitation has been very much misunderstood by the young economic graduates these days in the sense that there is also the exploitation of nature as well, by these capitalistic firms. This results in both increasing poverty and inequality in income and wealth and the environmental exploitation which threatens us all. This boils down to the studies by environmental economics and behavioural economics papers.
Let's take a simple problem at hand and mention the nudge which should be done. The uber and ola Start-ups. The capitalistic firms have just one main objective of profit maximising, the secondary objective being customer satisfaction. These startups have very much exploited the natural process and there is exploitation at every stage of life. During winters, these automobile companies, still put on their air - conditioners, and the customers enjoy it. Here, what comes in is some Nudges and the government intervention in a positive way. The citizens above the poverty line are losing their sense of mind and are driven to a more luxurious and conspicuous lifestyle rather than a rational choice theory. One sort of nudge in this case would be to switch off the A.Cs during the times when the weather around us is cool and the government should take proper steps against those flouting the law : A fine, for example.
The citizens have become more irresponsible and are made to thought that the government is there for them and whatever happens, the government of India would come to their rescue. The diversion of the people's minds have been done in a much more planned way than our imagination.
For example, the upliftment of the Article 370 has led the government and big businessmen like Ambani, to exploit the whole of kashmir. Now, people will think, that the investments would create employment opportunities for the people of kashmir. Right? No, wrong! Think... That would be exploitation of their freedom, and in return for that you're giving them petty jobs. This would directly mean that the poors remain poor, while the Ambani's become more rich by exploiting and thus the inequality in the economy increases. They're happy with their lives. Money is not everything, it cannot buy happiness. The wealth - oriented definition by Prof. Adam Smith, simply goes down the gutter because one needs to understand that there are people who are earning less, but are happy, and we have no right to exploit their happiness. You cannot follow the wealth definition of Adam Smith.
If there happens to be an exploitation of kashmir as a whole, then I petty that this environmental problem which the world is facing will get worse and this is only because of exploitation by the capitalistic firms and their evil objective of profits.
Apart from this, the mind of the citizens have been restructured and the path of correct thinking has been in-versed into the concept of "one - nation", one - religion ": more like a divide and rule policy of the British government. Even then, we took it into our emotions and fought among ourself and the third party was benefited. And even now, the history is repeating. For example, with the slogan of 'Jai-Shri Ram' and mob-lynching coming into being, I've two questions popping up inside my head while writing this article. One, why isn't the government saying anything about this, if it wants the betterment of the Muslims and the social welfare maximisation. Second, what benefit will we get by forcing the Muslims to chant the slogan of "Jai Shri Ram". If we say it, their perspective about Allah won't change and if they don't chant, then we shoot the Muslims right on the forehead and you think you've accomplished a great deal. But, sorry, you've lost humanity. These stunts even 'Ram-ji' wouldn't have done it, which the Irrational people (mind it the people and not the Hindus as a whole) are doing. These are nothing but a selfish political stunts to get into our head and exploit our world of happiness. I would like to quote something from a book I'm writing : "We're tending towards corruption, rather than tending towards Correction". Just give it a thought! Adios...