Administration & Management

It's Art of Governance & Not Commerce Alone

DELIBERATIONS ON POLITICAL ECONOMY BY A NON ECONOMIST


In the world, where knowledge domain of Economics has over simplified postulates and assumptions at it’s foundations where everything boils down to human rationally and self interest, you can certainly afford to enjoy the luxury of not being an Economist.

This helps in letting your thought process turn human. It has the liberty to be logical till things work that way and turn lateral the moment things go the other way. Your inner self will not force you to accept the postulates on which economists base their decision.

Another over simplified assumption, that ‘maximization of self interests will cumulatively lead to maximization of social interest’, has now turned man eater. Its hunger for blood has now started erupting at shorter intervals of times and subsides by sucking more blood than the previous encounter.

The attempt here is not to advocate socialism or oppose capitalism as a better and brighter school of thought or vice – versa. The efforts are being put with a wish to succeed in convincing people on existence one another ‘—ism’, which much different but nearer to truth than any of the existing ‘—isms’, be it capitalism or socialism.

‘Realism’ is a concept that is much easier to understand when compared with any of the complex fictions wrote to date and which have succeeded in convincing the humanity.

Perhaps, a student of standard five or junior school can get his curiosity satiated by getting convinced from few postulates, as mentioned below:

1. In a situation of panic people often turn dumb or even turn statue. It seems as if any ‘vacuum’ has replaced the whole thought process. In such a situation an assumption of people being logical or rational or self interested is in itself an illogical and irrational assumption. In other words, you can say that any situation that leads to getting your thought process can be said as a situation of panic.

2. It is the ‘investment’ that increases the productivity thereby leading to a surge in consumption and thus paves the path of economic development. Economic well being of society can, never ever, in long term be ensured by increasing the consumption or maintaining a status quo in the consumption level. In the long run, sustaining or increasing the consumption levels without any increase in investment, will lead to much grave consequences as it will get the economy more leveraged.

3. The state of ‘self – denial’ can never let any individual score victory over ‘death’; i.e., say save from facing the eternal truth of human mortality. State of self – denial is first symptom of the fact that individual has lost the battle and is now turning ostrich.

4. Components of any system, which are termed as sub systems, maximize their interests only to the levels where maximization of their self interest is in congruence with the goal of system and not beyond. Else the system will collapse. This leads to the inference that maximization of self interest would converge into maximization of social interest only till a limit. If the same is pursued beyond those limits, it’s bound to turn fatal for society and will even endanger its existence.

[Neither Postulates Nor Discussion Is Over – But Is Enough For The Day – More At Next Encounter]

                                                                                                         –Always Yours — As Usual — Saurabh Singh

Advertisements

Comments are closed.

%d bloggers like this: