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Showing posts with the label vaccine diplomacy. Vaccine Maitri

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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IS India the Vaccine Hold Out?

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  The West can never countenance India doing something good. They try to dig out a dark line in the brightest of the skies. They had colonized India. They cannot fathom, that a country that was long their vassal could stand up on its feet but more importantly could take the lead in many different global dimensions. This was despite numerous hurdles that were placed in its journey. This treatment is never applied to China or Japan for that matter. India is something wrong unless it follows the Western dictums in every domain. The tragedy is not the Western treatment of India but the very fact that Indians themselves diss themselves. There is vast section that thrives on finding rot in the Indian society, economy, business and what not. They love to run down Indian achievements.   In the Chinese pandemic, it is India which has emerged as the pharmacy of the world. In the initial days, it was India which led the world in exporting masks, protection equipment, HCQ tablets, paracetamols
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