It was indeed a nice lecture
Points to be noted are, not only in the domain of national economy but in every aspect of life there is no fit all sizes solution, in short life has no panacea for anything.
As you rightly point out at the end everything must be approached and evaluated based on contextual relevance and the inherent merits or intrinsic values.
In fact I have been steadfastly reiterating this on various issues and domains.
Also the terminological terrorism is actually a phenomenon assiduously developed by the media. As it is, words undergo lot of changes in terms of the connotations that they gather as they evolve. But this terrorism is a method through which certain vested interest groups/mafias in a many fields starting from academics to political to religious outfits appropriate certain labels and then feed it on to the media to divert the attention of the general public so much that the very people who started it for their vested interest end up forgetting the original intention like for example the word ‘secularism, communalism etc are used in India.
When you have time you may go through these and give your feed back
[ in fact I have a face book group itself named contextual/situational]
On terminological terrorism
On the importance of contextual relevance, methods of evaluation and mortality of economic theories