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Tuesday, January 5, 2021

Economics- the functional aspects

 

Reality usually manifests too harshly to make people learn to know their shortcomings if they fail to observe and to accept them otherwise.

The fragility of the economies of US and Europe have got exposed that, without hyper consumption and spending spree their economies (splashing 60% of what they earn in 5 days in the weekends which starts from Friday afternoon- this is not a judgment but an observation, nothing wrong about it- at least the Epicurean philosophy makes one live happily- "eat, drink and be happy, for tomorrow you may die" concept) are in really very bad shape. 

Many economies which acted as feeder cells to these consumers either in terms of manufacturing products or providing services have been hugely impacted.

This also brings into focus the necessity to study functional reality of livelihood of many with at least basic necessities in place.

Is  the world ready to see the obvious and simple facts without jargons and jam-packed theorists jostling for acceptance of their versions?

Economics as a mere academic and/or theoretical construct based on data, surveys, statistical analysis, extrapolation of past trends or experiences is one aspect which is predominant,  prevalent and pervades the media space and gets wide visibility.

But what about that functional aspect of economics which impacts life and all its concomitant activities on a daily and hourly basis unmindful of all the academic predictions or macroeconomic policy promises.




 

Confused minds

 

There are certain confused minds struck in the quagmire of superficiality but they seek attention through short cuts and surfeit of sensationalist slogans and scandals.

These confused minds are excreted out of inflated egos, deflated confidence, conflating unrelated aspects-the symptoms of Oblates of obsolete putrefied ideologies who filter everything through them or make contrived efforts to extrapolate those ideas to every realm of life.  Politicize and pollute everything and inject their idiocies. Wish such souls either learn in depth or relate with the reality of life or keep quiet or leave things to domain specialists and mind their own business.