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Friday, September 28, 2018

Economy why it can get misled

If one can have the  liberty of over simplification and over generalization, then, in short it is the price that even strong economies pay for succumbing to  over publicized offers  with hidden agenda of either intentional scheming and/or the result of  ignorant subjugation to manipulative enticements or projections based on mere notional valuations.

There may be many other reasons for economic backlash like:-

Excessively and intentionally complicating fiscal or economic policies;

Generating new derivatives which thrive more on notional valuations; 

Trying to extrapolate certain norms on multiple services and verticles;

Applying certain policies through enforced homogenization or unnatural creation of uniformity across different regions and different economic conditions;

Creating drastic paradigm shifts trying to change the very mentality of the people without enough field studies;

In most places, ultimately the political dispensation makes  the final decision on many matters of vital economic importance.

The politicians may be or may not be savvy about various parameters of economic development, and even if they are savvy, often, political compulsions may not allow them to accommodate various measures;

Besides, every where there are those lurking luddites who oppose any change for fear of losing their status quo.

We cannot do many things without data but at the same time we cannot do everything for human​ ​life relying on data alone.

The cure may lay perhaps in accepting the fact that economists too cannot visualize all possible twists and turns.

However, they can factor in as a priority social and humanitarian welfare along with balanced and realistic environmental concerns.

These  principles may ensure the basic intention of any economic developmental measure does not cripple all the three important aspects which contribute to happy living, social harmony and a useful environment for posterity ( with comforts of modern life and balance of biodiversity- at affordable places not near urban or suburban areas)

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