Economics Nobel 2016 – Macro No More Ruling the Roost

Economics Nobel 2016 – Macro No More Ruling the Roost

There was a time when Nobel Prize for Economics was monopolized by those academicians who were able to push the frontiers of macro-economics. Step motherly treatment to micro-economists, made the upcoming learners of the discipline to believe that rewards are proportional to the universality of their theories. Clearly, deductive research was the toast among the academicians during the large part of 20th century. But clearly times are changing as per Noah Smith in An Economics Nobel for Examining Reality as Micro-economics, supplemented by easy availability of data and better use of technology in analytics is surging ahead of macro-economics in terms of their improved share of Nobel prizes ever since 2005. So, it is safe to assume that ground breaking theories in the area of micro-economics will no longer remain to be harmless and unheeded salmons, but become the big white tiger sharks of economics world. It is carving out a unique space where smaller is better.


New twists and turns of Indo-China Policy

India and China, two countries who stood as a beacon of hope for the third world countries are confused on how they are going to deal each other. They are admired by western nations for their stability and strong policies in the field of economics. Their growth is considered second only to miracle growth of south-east Asian countries in 1990s. They are ambitious and successful in their own way. In the backdrop of their meteoric rise in the past decade, it has become imperative that both the economic giants need to back each other up by bring transparency in their relationship. China’s border problems with India, China’s weaponry trade with Pakistan, India’s growing policy tilt towards the USA acts as roadblock to this relationship expansion.

Internal differences in China

There has been a growing difference in various sections of administrative machinery of China. Diplomats and other scholars in the field of foreign policy have been raising their voices for a more cordial relationship with India, which could mutually benefit each other in areas of terrorism, trade and environmental issues. Whereas the latter’s polemic was to engage India and view its rise with suspicion. They believe that India has hegemonic ambitions in the subcontinent and it’s high time that China did something about it. The Chinese inclination to provide financial other support to Nepal and Bangladesh should be viewed as clear indicative of China’s desire to emerge as the leader of the South Asia.

Growing Mistrust

With fall of Russia, USA has been acting as ‘world police’ for so long that they couldn’t stand some Asian country standing up with their policies sometimes against them. A growing mistrust between China and US can be felt as US is trying to create a crescent of allies including Palestine, India and Japan. I must say that media has been a bigger actor in manipulating governmental actions and policies. Media reports acted a fodder for governments to change ‘Trade with China’ to ‘Chinese threat’.

I believe in transparency. It’s no more a world in which a country can survive in isolation.  More dialogue underpinned by concrete actions might save the world from another cold war (who knows a world war?).

Right to education: A nice little candy from the Govt. Uncle?

In the past one week this one topic might be the one having highest number of search hits after the Obama’s ambitious Health Care Bill. Every tom dick and harry has got a take on this one. Astonishingly even after being discussed at length, the importance of the matter never subside.

Lets put it this way: I am speaking on behalf of the government.

I am answering your queries. (Disclaimer: I will be going to any extend possible).

So guys Shoot!!

What has been government doing all these years? Why now?

For many years, elementary education was governments main motive. Government now understands that the demand of education has grown by leap and bounds. Administrators across the country were making sure that enrollment, availability of schools within walking distance, provisioning for infrastructure and deployment of teachers. In short government has realised that time has come for the government to act upon the social evils and shortcomings of the local governments.

What are the alternate uses of this Act?

Bringing the “invisible” children to the mainstream. Government of India recognises that there are many migrant and street children who live in extremely vulnerable situations. Many of these children are formally enrolled in a school but either dropped out or never have been there. It pre-supposes that child labour will be eliminated.

The namesake ‘School’???

Again back to square one, what is the use of schools if students are not willing to attend or not in a position to attend. This answer to this answer will give insights as to why education in India is in a state of great disarray.

Compromise in the quality???

Quality in one area which is as important as the popularisation of education in the rural India. It is the need of the hour for the policy makers to think out of the box and construct a sound system which moves beyond the convention of using textbooks as the basis of examination. Every teacher must be made accountable for the progress of a specific no. of students, by which every student gets the maximum personal attention.

Responsibility sharing???

Every single party wants to reap the gains of a successful policy or a project but  when it comes to taking responsibility everyone shy away . The direct responsibility lies with the Education Departments of the Central and State governments. What we need is a collaborative and convergent effort by both to re-design and re-conceptulise in pedagogic perspective. Unless there is a  vibrant partnership with the departments, this act will remain as a paper tiger for the rest of years to come. It is also important that local authorities should discharge their duties with the help of NGOs who can garner public support better the those who are shut inside their Air conditioned rooms.


More than anything it is the perspective of the public that needs to be changed. Social exclusion must pave way to Social inclusion, Gender discrimination must lead to Gender encompassment. Above all, it must amplify the voice of the disadvantages and weaker sections of he society.

For technical insights, please download my powerpoint presentation: