Aug 10, 2006

Trivial Pursuit

When people think about something very important for you, is for someone else a trivial pursuit. (Of course as an economist you can justify it as 'you cant compare inter personal utility.yadi yada yada) considering tht u r intelligent and/ or not an economist you should feel something amiss.. when something important to u like the well being of India seem totally irrelevant to others...( the argument goes something like in another 50 years the individualism will be so strong that the concept of nation state may not be as relevant as you currently think. So as i see it there is actually enough diversity in the thought process ecosystem to warrant somebody's mission being called a trivial pursuit by someone else.

Maybe the economists are right in this regard..inter personal utility comparison is not only difficult but may be wrong and /or counterproductive.

Aug 8, 2006


Apropos the post by Roubini on RGE Monitor , How will the recession (if it happens) influence the world economy, and particularly the Indian one. ie Will i see some reduction in say US cos. spend on IT. How will that effect the Indian or India Based companies (i.e Will US cos become too costly moving traffic to India or that has already happened and Indian companies will have reduced estimated incomes) and how will that effect the increment of a friend or two currently working in IT sector.

Again there could be a definite downside for Indian exporters if US slow downs its exports but i suppose still the overall effect should be marginal.

But for me the Indian effect will be unprecedently albeit marginally effected from US slowdown provided ofcourse the rest of the world does not manages to decouple from the slowing US economy.