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Showing posts with the label politically incorrect

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 Consequences of Woke Individual Liberalism

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The piece Diminishing Returns of Woke highlighted the counter reactions emerging towards imposition of wake culture. Political backlash is pretty visible, the backlash is spreading down to lower echelons of the society. Yet instances are being reported of woke liberals engaged in a witch hunt on the deviants from the alleged woke line. The case of an Ola driver to doctor in Kerala to an earlier instance of chef in the Gulf are pointers towards ‘micro-Dreyfuses’. An unpopular view of the same, however unfortunate it might be, is there will be victims of this battle. Foot-soldiers often pay the price and perhaps of higher magnitude in relative terms. Yet the cost of witch hunt would be significantly higher for woke liberals. To a woke liberal, long run success would be of conversion of ordinary human towards their side and if not at least not push him or her to the other side. This collective interest is at odds with the individual self-interest of woke liberal. He or she wants t
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