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

Internal Protests and Global Provocations

 

While the farm protests continue to linger on, there seems to be some new turn every now and then. These turns at times do add some drama and perhaps some comic relief to the observers. One such element that seems to have stirred some debate in the last twenty four hours so has been a few tweets in support of the protests by some celebrities. This might not seem surprising but then those celebrities or so-called celebrities have nothing to do with India. Late evening yesterday, singer Rihanna tweeted in favour of the farm protests followed later by porn actress, Mia Khalifa. If this was not enough, in between them, the child environmental activist Greta decided to add her voice. Meena Harris, whose claim to fame lies in she being the niece of US Vice President also decided to add her voice. These voices were sufficient to be a catalyst to the voices of the Indian opposition and the farm protest supporters. They see this as an internationalisation that would eventually hurt Modi and bring him down. They see it as perhaps the step in bringing international pressure and sanctions. While this might be a pipe dream, any such voice from abroad is always music to the ears of Indian left liberal ecosystem that is currently under siege and engaged in a rearguard action with uncertain outcomes.

 

At the outset, those would have hardly any impact barring few theatrics in global dealings with India. These celebrities are known to tweet or post on Instagram or Facebook for consideration and no doubt that would have been the case even now. It would be a surprise to find if they are aware where India is located. In other words, the probability of finding India on a map leave Punjab is close to zero. Greta too believes every anti-establishment protest is pro-environmentalism. It is ironical that the farmers want to perpetuate a system that is antithetical to what Greta is campaigning for over the last few years. This indicates she is another pawn of anti-establishmentarian ecosystem that keeps manufacturing protests across the world where they find the regimes inconvenient.  India is on the radar of protest industry and it in many suggests India has come of age. While there would be little to go beyond dissing or even ridiculing these so-called celebrities adding their voice to the protest groups, what needs a deeper discussion would be the India being on the radar of international protest industry.

 

The protest industry is built on the premise of being a barrier to entry for the other countries into the elite club. India is expected to record good growth rates and bounce back from the pandemic induced recession fairly soon. India is attracting investment from multiple quarters and is likely to emerge as an alternative to China. India’s prowess in technology is likely to see it make impressive strides and this would be a bonus for it as its economy hits an upward trajectory. This in many ways would seek to dislodge the positions of the current global establishment powers. India is desirous of a high place in the global power table and is not unapologetic about its aspirations. There would be little achieved for the current global elitist powers if they were to allow India onto the seat of power. There would be natural barriers of entry that would sought to be erected. Any act of dissent in India would be magnified and manifested to the Western audience. The West can never come to terms with India  rising especially in under 75 years. Their premise of white man having the burden of civilizing the natives would come to a naught if India were to displace them. Therefore they need to stop India. Their first task was obviously trying to bind the Indian leadership post Independence into a moral suasion force. By highlighting the so-called peaceful struggle for independence in contrast to the violent revolutions or wars elsewhere they sought to create a trap for India. Any deviation from the so-called peaceful methods was seen and described as a contrast to the Indian founding ideals. The current approach of PM Modi has challenged many of the long standing propositions on defence, economy and internal affairs. The revisionism has not gone well obviously with many in the outgoing ecosystem which had flourished on the rhetoric for more than six decades.

 

Secondly, as India makes its way into the global power calculus, it would obviously come under increasing scrutiny. Any smallest of deviations would be highlighted and amplified in the global media and elite circuit. The global chaterati has thrived on patronage in Indian elite circuit and vice versa and they would be in no mood to accommodate the new establishment. Therefore, it goes without saying that the Indian actions would come under stress. There would increasing pressure on PM Modi with implicit threats of sanctions. The Indian internal establishment of the opposition would not hesitate to invoke global role in meddling with India’s internal affairs. Be it the Delhi nobles of 1526 or 1761 or the recent attempts in the run up to the 2014 elections when many non-BJP MPs asked the US not to issue visa to Modi, these have a long history. The Indian opposition is dreaming of the rehash of 2011 Ram Lila Maidan but unable to manufacture it. Similarly they are trying to invoke global celebrities with following in the Western circuit to use their voices to spread anti-Modi messages to the Western audience and thus indirectly put pressure on the Western governments to act.

 

There is no doubt that the Western world has no locus standi in India’s internal affairs something highlighted by the statement of the Ministry of External Affairs. India has reacted fast ostensibly playing to the Broken Windows theory. Support has been built up from sections of Bollywood and sports celebrities. The attempt to intervene from the West would obviously invite domestic build of nationalism that would go against the interests of the farm groups. Any attempt to intervene or comment on internal affairs of India would play against the interests of the domestic anti-establishment. Yet that is hardly their objective. Their objective is to mobilise global establishment opinion against India and seek to delay India’s place in the global power table. Furthermore, as India builds up its power, there would be continued challenges and perhaps would intensify in its intensity. These are merely the first signs of something India is doing right. India can take care of itself. What is currently happening is a long term game to keep India at bay from the global power circuit. The previous governments accepted their place. Modi is challenging the global power assumptions and unlike Vajpayee seems to be here to stay for very long time. This is the real reason for those invisible hand in provoking India from foreign shores.

 

 

 

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