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Showing posts with the label Mamta Banerjee

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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Countering Bengal Political Violence

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  While there were expectations that BJP would offer Mamta Banerjee a stiff fight in the Bengal elections, the end outcome was a decisive victory for her. The BJP however which used to struggle to open its account managed to become the largest opposition party. In fact, the entire opposition space is occupied by the party with the Left and the Congress drawing a blank. It was a sad ending for the Left which had once ruled the state for 34 years. The moment election results were out, there was sporadic violence with the Trinamool cadre attacking the BJP voters. Disturbing videos were seen floating through the social media. The Governor had to publicly reprimand the Chief Minister at her swearing in. Apparently, it is the force from the minority community that seems to be attacking the majority. The political violence is not something unusual.   Bengal has been witness to political violence for decades. The Senbari killings to the burning of Anand Marg monks to Marchijhappi violence
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