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Showing posts with the label politically correct

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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Of Freedom of Expression and Ripper Jeans

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  The freedom of expression is a sine qua non in a democracy would be an understatement. It is not just important to have your say but allow the right to disagree without recourse to violence. There are myriad points of view and it is the societal welfare that would be best served when these points of view are allowed to be expressed without fear. Natan Sharansky, a conservative thinker once proposed a town square test. It implied the real freedom would exist when someone could go into the town square and express his or her views without fearing for their life or liberty. India has recognized the freedom of speech as an integral part of the constitution by enshrining it among the fundamental rights. The courts too have upheld the right to free speech and expression many a times in their judgments. Yet, what has not gone unnoticed is the right of free expression is selectively applied. Perhaps it is only one ideology that seems to have a monopoly over free expression. This again has bee
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The Diminishing Returns of Woke

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Roger Scruton who passed away recently had a reputation for being eternally politically incorrect. Individual preferences are an outcome of several factors. In theory, the right of free speech mandates the protection of these preferences unless it encroaches through a process of physical or mental harm the exercise of preferences of another individual.   In the context, individual could mean group too, an aggregate of all individual preferences in that group. Yet private preferences when expressed in public often create a storm because ostensibly they are not deemed to be views of educated, polished, cultural, literate person. To exhibit one’s literacy, polishness, education etc. individuals are expected to rise above narrow strata of thought, parade their cognizance of the injustices apparent or real across the world around them and must be seen to stand for the alleged victims of these professed injustices being meted out. This is something has come to be termed in popular circles
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