philosophy in the age of recession  

Posted by Rithish

akka Mahadevi avru helalilva 

bettada mele mane madi mrugagalige hedara baradu anta 
hage software profession nalli idda mele layoffs ge hedera baradu

Sister Mahadevi person has said-no
hills up house building, then for animals fearing should not happening 
likewise software profession in happening after, layoffs for fearing should not

*Ahem* That was the best I could do with the translation. I didn't want to take the philosophical edge out of Harsha's words. Harsha is one of my best buds since school. Yeah! The same guy who voted against me due to his Gandhigiri. So, let it be known that I lost the school election 'cos of what Harsha did (lost by a single vote); but let it also be known that am a better man today 'cos of what Harsha did. [If you've been following my contemplations over the years, you'll know what I mean].

But I digress. The point of contemplation is not Harsha and his Gandhian philosophies. The point to ponder on is what's up with the crises we have at hand. Obviously, if I had taken up economics in college, and had the intellect to put it all together, I would be giving you a deep insight into what's been happening around, instead of this pointless tirade. For the same reason, as my dear friend Abhishek has suggested, I've decided to pick a copy of Freakonomics the next time I venture into a bookstore.

But I digress again. Let's look at what has made the crises at hand. Production lines are being cut as there are no sales. Stock markets are down. Companies are laying off their employees in order to make profits. Commodities are becoming costlier. Do you see a common denominator here? Yes, you clever people. I could kiss you for that. It is money. It is money! Cash! duddu! hana! paisa! 

Where has the money gone? The money was there when the economy was booming a couple of years earlier. Heck, it was right there a few months back too. It couldn't have just vanished into thin air!

Rest assured dear folks, that the money is still there. And it will rear up when everything is hunky-dory again. The money is right there in our tight purses. Productions have stopped 'cos sales have reduced. Sales have reduced 'cos people don't buy. Stocks are down 'cos people don't invest. Do you see a pattern here? Yes, it's the people. It is us! We! I! You! Everyone!

We have lost the faith we had in the economy a few months back. We have lost the trust, and we look on in fear of what could be happening ahead. We dread the future, when in actuality we are in a position to script it as we want. 

But then again, I could just be a maverick. A freak, would be more apt. I could probably take this as a lame excuse for buying a car. But hey! I have done my bit to keep the economy rolling. Have you?!!?
 

This entry was posted on Monday, November 24, 2008 and is filed under , , , , . You can leave a response and follow any responses to this entry through the Subscribe to: Post Comments (Atom) .

5 comments

You are not as much a Maverick you ought to be....at least on this... Read On --->
Indian Economy IS NOT IN RECESSION.. not as yet. Only if WE contribute to it. Watch too much tv.. read tooooo much on Gossip spreading newspapers (TOI is No 1 in this - 75% of front page analysis on recession is based on gossip...these things actually contribute to it.. no one can check the facts on these - You still read it and plan your house hold Budget over it! - postpone your proposals to purchase property - postpone your proposal to invest and so on...)
So this Maverick has done a good job this time. Let's not depend upon the weather forecast..

Anonymous  

God bless you for keeping the economy rolling. I will take the hint, go shopping and buy vegetables for the next week. :)

Anonymous  

Huh!!! What a lovely way to say "Hey I have got a car!!!!" Chidambaram and Singh are rushing to Bengaluru to award you on keeping the economy rolling, and for contributing to lowering the inflation rate. Had you bought your car before G20 summit, they would have surely presented this as a case to demonstrate how strong Indian economy is - "we buy cars - u guys cry in debts!!"

the point rithish has made is called "paradox of thrift"
its a situation where the economy comes down because people stop spending...

"BUT".. before all nod your head..

spending is a very broad term.. "spend naturally" is what it indicates..

If you used to eat out continue.. buy clothes..

If you have money, then buy car...

the theory does not ask to spend more than what you can.. else if not the country, you yourself will go into recession..

@Raj : I respect your knowledge of the financial world, and will take that as a compliment coming from you. :o)

@Rohith : et tu bro.. :-D

@Poorna : har! har! there is sarcasm everywhere...

@Sruthi : "spending" is not *that* broad a term really. wordweb says its the act of spending or disbursing money. I see what you are caught on though. You are saying don't be on *credit* if you can't *repay*. there is a difference in being in credit for buying a car; and in being in credit for going on a vacation. but I'll leave that to another post; and another day.