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Showing posts with the label Republic Day

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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Government Twitter Battles and the Market Right

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  In India, it seems set for showdown between the government and Twitter over its policy of moderation and refusal to ban accounts responsible for violence in the national capital on the Republic Day. The government seems in no mood to let Twitter off the hook. On the other hand the platform seems to be vouching for the right of free speech or dissent and seems to argue the government orders are in violation of Indian laws. Twitter obviously cannot sit in judgment of Indian laws. It can however challenge the government orders in the judicial forum for a remedy. Yet Twitter is hardly in a mood for the same. To Twitter riding on a high of left liberal euphoric support on its action post Capitol Hill riots seems to sense this as a move which will fetch rewards from the left liberal elite circuit as it takes on PM Modi who is the object of hate for the leftists. On the other hand, the right wing support base of PM Modi is in a mood for a bloodshed and seemingly wants Modi to crackdown.  
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Farm Protests, Tractor March and 1982 Asiad Disruption

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  It is apparent that the talks between the government and the protesting farmers have broken down with no end to the deadlock in sight. The farmer groups apparently want a corner solution and seem to be in no mood to settle for any other solution. The government did offer them a sort of face-saver in suggesting a postponement in implementing the laws upto a year or year and half. This was perhaps in view of the upcoming Punjab elections next year and something for the farmers to boast about in those election. Yet as expected the farmer groups have rejected the same. The government would perhaps be anticipating some divisions in the groups over the latest proposals. It is conceivable there would be divisions, but would take time to manifest. The government is perhaps prepared for a long waiting period. Most groups are basically from Punjab with some from Haryana and a sprinkling from other states including Rajasthan and Uttar Pradesh.   Meanwhile there is a clamour for a crackdown
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Theorizing the R-Day Parade- Economics Approach

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January 26, the celebration of Republic Day has become synonymous with the military parade along the Rajpath. Besides being a tourist attraction it reinforces the sense of national pride and honour. While the Rajpath where the President takes the salute, is the cynosure of attention, the parade makes its way across parts of Delhi.   Yet, on and off, there have arisen questions over the necessity of parade.   It might not be far off when woke liberals might call for ending the parade on grounds of encouraging intense nationalism. To some in the right, it if often viewed as hangover of the Soviet style parades that dominated the Communist Soviet Union. Military parades are known to have existed for centuries with records documenting the same in Roman and Greek times. The modern counterparts are however, around a couple of centuries old, with the oldest perhaps commemoration of fall of Bastille. The evolution of parades is not uniform. Though objectives might be similar to varying
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