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Showing posts with the label left and history

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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Imagined History of the Left and Sitaram Goel

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There is an interesting and thought provoking post in Dharma Dispatch. The post discusses the agenda of the left and how Sitaram Goel sought to destroy the same. He perhaps could not in his lifetime but certainly with passage of time, the reputation of the left as custodian of Indian history has become discredited. The monopoly which Romila Thapar and her ilk enjoyed for more than four and half decades is on its final legs. The Supreme Court judgment on the Ayodhya Ram Temple issue was the final nail in the coffin of the left historical agenda in creating deracinated India.   Unlike China, India let control of the history be dictated by a cartel controlled by the Europeans. The modern historical scholarship if one might term it so began from Max Muller and his successors. Post-independence they handed their baton to their Indian followers. These followers essentially of the left persuasion began dominating the narrative which was consolidated with suppression of any dissent by Rom
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