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Showing posts with the label Broken Windows

Decision Making as Output and Bounded Rationality

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  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
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Internal Protests and Global Provocations

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  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 b
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Judiciary and Hindu Sentiments: Some Notes

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  A couple of judicial orders relating to freedom of expression and Article 32 among others attracted attention in the last few days. There was show ‘Tandav’ which apparently showed Hindu gods in a poor light. This naturally led to an out roar and leading to filing of complaints. The actors and producers and writers of the show were complained about. As police registered FIRs at multiple places, these grieved parties approached the Supreme Court for stay on the FIRs and anticipatory bail for the same. The Supreme Court refused any interim protection. Similarly in Madhya Pradesh, a stand-up comedian and his team were arrested for allegedly hurting the Hindu sentiments in their show. They approached the High Court for bail which rejected the same. These two issues have again opened up the wide debate on the freedom of expression and the limits that apply to it.   Unlike in the US where the freedom of expression is absolute, freedom of expression in India is subject to reasonable rest
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