Where Economists go wrong? Part-1

Economics is widely regarded as the queen of social sciences. It is single handedly the finest fodder for any philosopher’s brain. The megalomaniac inside us hesitantly waits for the idea to pan out. Let me predict something ,evethough completely irrelevant,the rise of consciousness in Quantum electrodynamics will eventually lead to a race trying to relate our consciousness with economics to the core.

The two ideas that i wish to discuss here, is common for all social sciences.

  • The inclusion of highest cognitive force to each layer of analysis
  • Non-linear relationship between base and superstructures.

Every social science flourish on the idea of multiple layers interacting with each other to generate a number of combinations each pertaining to a logical nature of behaviour of the layer. Lets consider an example, the Keynesian Multiplier effect, during a recession, he suggests the government to invest on high cost public projects which would generate employment and which in turn will lead to rise of demand and eventually the investors would come around these projects and slowly but surely will outweigh the debt the goverment has endured. In one chain of events,his beautiful perspective of demand generalised the need for government planning and control over markets. The house of cards will fall the moment we introduce the highest level of cognitive process in each chain of the system. The moment I assume, that the essential objective of these cognitive process is to minimise the expenditure of perceived valuable resource, everything in the chain is prone to large changes. The cognitive process encompass of all types of cognitive capabilities includinn emotional intelligence, behavioural differences etc that the participant possess at an individual level (more about that later).

I don’t blame Keynes here,but I do blame Hayek for his complete neglet of market behaviour thinking that market is the collective agreement of the participants and that centralised government planning is dangerous. He has practically assumed that any bunch of transaction is an agreement of buyer and seller where as in reality, it depends on the cognitive process involved in the transaction. Hopefully in future,I will try to argue with Marxian and Neoliberals.

For the second point in consideration, lets make an argument that we as a group of life forms were introduced to a completely isolated set of resource pool. How will our economic behaviour ? I am still pondering over the idea.But why Economics,The reason for my consideration of Economics is very simple, it is a base structure, the organisation and structuralisation of same can lead to formation of superstructures like polity etc. The formation of economic behaviour will essentially contribue to formation of our ethical nature, aesthetic sensibility and other social and mental structures. We sure know that they can be easily warped by economic problems as well. The economists of yesteryears often forget that the superstructures can often provide feedback to base structures , that there is non-linear two way relationship between base and superstructures.

If so, what should be the objective of development,markets are non-balancing, manipulative mess of a system, superstructures and base share a non-linear relationship that often picks up the side with more cognitive effort. The objective of development can be defined at a social level, but I strongly,rationally believe, it should be always suggested at individual level. I am in the process of forming a clear opinion on it, when the clarity of thought is achieved, I will discuss it with you.

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The memories of a polity

I can hear it -The strong echo of an impending doom – yet it was so damn irresistable because there was a shimmer of light, a hope that it would redeem me.I reached here because the villainous entity promised me that it would elevate me from the scandalous polity that I am to a lovable young polity with economic and social justice and funny fact is that I actually believed them inspite of the dark past he came from.

It all began with the grey warfare to make me sovereign from a brutal utilitarian power whose concept of Liberty was to enslave so as to award civilization.They called themselves the masters of universe with an empire when even sun is afraid to set.There was blood,and tears in volumes that could bathe me for a lifetime and ofcourse there were sacrifices,there were compromises,there were concerns,factions and ideological clashes. Yet I thought I was given freedom, oh how wrong I was. The first son of my land was murdered in the name of gods and mortals and we were in dark.

Indifferences were everywhere,state dependence was brought in to control it.Organisations that screamed and killed in the name of culture began to weep in the name of culture.Daughters,Sons,Followers and even enemies of the man with rose came and went.They shapeshifted me in different ways and a daughter with imported dye reshaped me into an oppressive successor of our brutal utalitarian enslaved.Then the fight for power began and our expired master smiled with twisted lip.

Garibi hatane ki koshish dhee.There were efforts in both right and wrong direction and I still had hope because when it wrong,there were criticisms,there were fights and when there is fight there is hope.People controlled for 13 days to 2 years and yet no-one could seduce and destroy the freedom of my people.My youngest brother-economy- was in shambles and it was not an accident and then the devils gave us an offer we cannot refuse.Control every aspect of life – threaten sex, create insecurity, seduce them with consumerism, seduce with luxury and my people fell for it.

My brother was altered beyond repair and even the world is confused now.They don’t understand my brother ,even I cannot see him as my brother nowadays.

Inspite of all this, I had that one thing-hope because there were always more voices and I knew I had hope until there’s that sound.Bloodbath continued inspite of my sovereignty;Temples became more important than life,God became useless and I said Nietzsche was right in literal sense-God is dead and in that burial ground I burned,buried millions and the new masters of my life planned, laughed and cried in vain because even after so many deaths ,there were voices. There was hope,there was unbridled optimism and it was proved that a shining wrapper is not what my people need, its the value of being a human being.

I was smiling when the shining was proved to be false because the voices were heard. Then I saw those people slowly emerging from the shadows and sons of no nation,the sons of self nourishment,the sponsors of the new masters.A man resposible for unforgivable bloodshed was elevated to be my master and still I had hope-because voices are still heard.

Now there is silence and I am at the brim of a suicide point and it’s just a matter of push and I am waiting for new masters to push the final button…