Decision Making as Output and Bounded Rationality

  The classical economics theories proceed on the assumption of rational agents. Rationality implies the economic agents undertake actions or exercise choices based on the cost-benefit analysis they undertake. The assumption further posits that there exists no information asymmetry and thus the agent is aware of all the costs and benefits associated with the choice he or she has exercised. The behavioral school contested the decision stating the decisions in practice are often irrational. Implied there is a continuous departure from rationality. Rationality in the views of the behavioral school is more an exception to the norm rather a rule. The past posts have discussed the limitations of this view by the behavioral school. Economics has often posited rationality in the context in which the choices are exercised rather than theoretical abstract view of rational action. Rational action in theory seems to be grounded in zero restraint situation yet in practice, there are numerous restra

The Hindu Rights Awaits its Gandhi

 

There is a constant debate in the social media on how left has monopolized the intellectual and cultural public sphere. Furthermore, there is a strong stream of liberal thinkers or at least so-called liberal thinkers who strive to have their voice as the monopoly in the public sphere. Without doubt, many have been patronized by the Congress led ecosystem that ruled the country for a significant part of the decades post-independence. There have been non-Congress dispensations yet they have shied away from taking on the powerful lobbies. Some attempt was made in the intellectual sphere or the social sciences sphere by Dr. Murli Manohar Joshi as HRD minister during the NDA rule from 1998-2004 but it was undone the moment the Congress came back to power. Given the liberal secular chatterati which is very vocal and thus entrenched, the scope for the challenger is often diminished.

 

The emergence of social media gave a new impetus to the growth of the Indian right. The voices on the right long supressed by the liberal elite found a platform wherein they could speak their views without being censored. This freedom is steadily getting eroded as the social media platforms are increasing converging towards the left of centre thinking and suppressing voices on the right. Yet, the organic growth of the right on platforms like Twitter is perhaps an achievement that is understated. This morphed into an amorphous ecosystem but homogenous enough to counter the monopoly of the left. The challenge to the left liberal thinking emerged from this unusual source and they could not get rid of them. Many have turned aggressive against the counter arguments. This was nothing unusual. In fact, in the initial talks between Hindus and Muslims on the Ayodhya issue, the preparations which the Hindus had done in accumulating evidence left the Muslim side unprepared. The monopoly in the cultural sphere by Islamo-left thinkers allowed them to suppress these voices on the right and drag the dispute for long.

 

Yet as the right begins to gain critical mass, the directions do not seem convenient for sustaining the system for long. The political power might exist or not, the dominance in the public sphere must remain dominant. This is independent of the political power in the long run. The right has been shouting from the roof tops on the left ecosystem but seemingly abdicates its responsibility of creating one to the government. Modi might facilitate the system but the creation has to be organic bottom-up. Yet this is something that remains invisible. The organic foundations are giving way to the top down approach. There is very little focus on the emergent than the existing. It appears the right is more interested in getting positions on the committees than venturing into the new and unexplored. The left has dominated the text book scene for instance for nearly half a century. The right wing thinkers want to replace the left on these committees. It is a different story that the text books as we know might be dead in no time and something else will replace. The right wing should have ideally focused on capturing the newly manifesting sources of knowledge than the existing ones. Yet, to them, it is about prestige of replacing the left in the committees.

 

An instance can be cited about the Wikipedia. Wiki over a period of time emerged as the primary source of knowledge. Given its invariably top of the search position in Google search, people by default will tend to navigate to Wikipedia for information. The left perhaps realised very fast and moved to capture the same. The Indian right was more in dismissal of Wiki pointing to its inaccuracies. Barring a few on their individual volition, there was no attempt to capture Wiki and post accurate information at least on matters with respect to India and Hinduism. It was only during Delhi riots that Indian right seem to have woken up. Yet aside of the some noise, very little has been done to build an Indian equivalent of Wikipedia. There is no reason why this cannot come. The thinking in the Indian right is more of top down approach with creating a few right wing public intellectuals who will lead their battle. Yet this hardly serves the purpose.

 

While Amar Chitra Katha or Chandamama did their bit of work in sustaining the civilizational memories, the current crop will have to revolve around gaming for instance. Yet the gaming industry in India is very nascent. The emphasis on toys and gaming by PM Modi recently is more to correct this `imbalance. Yet in the absence of bottom up push to building a civilizational based gaming and toy industry occupying the high value add in the Smiley curve, these will become tools for the left to capture. Indubitably, the new tools that are on the horizon are the virtual reality and augmented reality. Both are experiencing limitations given the paucity of content. The content to these technological forms can be created. Furthermore, with passage of time, they will become more granular. Yet the Indian right is hardly venturing into these spaces. The left liberal system is all set to capture these spaces and the Indian right in all likelihood will again sit and whine.

 

To the Indian right, the celebrity right is what matters now. They feel perhaps threatened by the emergence of somebody from the grassroots. These might have evolved organically but any movement from the grassroots will erode their monopoly. However, unless the cultural movement is made bottom up, evolved organically, the movement will not succeed. There is a definite need of an Indian repository of videos, a la an Indian YouTube or Vimeo, there is a need for an Indian Facebook, there is a need for an Indian Twitter, yet these are far from the minds of the Indian right. It must be realized that there cannot be a global right. The right by its very definition would locate in a certain frontier unlike the left. The Indian right currently resembles the Congress pre-1919. There are some grassroots effects, yet in totality, the pecking order is top down. Despite his failings, one too many, Gandhi’s contribution lies in making the nationalist movement bottom up. He involved the masses than the classes. Without the organic growth of the movement through a capillary action process, the Indian independence would have remained a pipe dream. The right wing in India or the Hindu right in particular awaits this moment.

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