Monday, May 04, 2020
breathe easy kid
Monday, June 25, 2012
Feeling wanted or not?
Tuesday, November 29, 2011
the law of unintended consequences
There is nothing sadder in this world than a wasted crisis. There is so much to learn and so much to understand from it. To repeat an oft repeated cliché – history repeats itself and those who don’t learn from it are condemned to repeat it. the last few years we have seen the best of crisis hit us. There has been so much to learn from it. A lot of free time is also spent learning and understanding.
The last time (2008) the crisis hit I was hooked on to the RSS feeds. They saved me and my brains from entropy. I read every day and I blogged every single day. Learning and creative wise they have been the best of times. A crisis is much too important an event to be wasted. These times are no different. We seemed to have gone out of the crisis we thought we were getting into and jumped right into another one. I always wondered how the dam euro worked with different countries. I thought – hey that’s a swell idea. I am sure the euro would be managed by one central authority and I thought there would be an amazing fiscal consolidation with all the Euro zone members coming together as one central banking authority. Only the present crisis helped me explain what now seems like a dam stupid idea. You have a monetary consolidation but not a fiscal consolidation. Are you like… nuts? How the hell can you do that? Only an idiot would agree to it. I clearly remember the launch of the Euro on TV. I think it was covered on a program called the world this week. There was plenty of hype and euphoria. But sure, in hindsight vision is always 20-20. These very same critics remained blissfully silent all through these years.
But coming back – this time around I have discovered podcasts. Economic podcasts that explain the situation, explain the issues at hand, possible solutions, historical background, et all. Along with listening to them I have been reading the Economist. A lot of it then begins to make sense. I just can take my mind off the Keynes versus Hayek podcast. Man. All our lives we understood the Keynesian theory and the idea that we must spend our way out of trouble, while Hayek kept reminding us of the issues that we would face with loose money. They also pointed to the rap videos that sought to explain the two theories in direct contrast with each other makes for interesting learning.
V1 -
V2
I must admit that I first saw the video while the first crisis was in full effect and at the time I don’t think couldn’t fully grasp the strength of the Hayek idea. Loose monetary policy will result in misplaced investments and a bad hangover with inflation coming knocking at your door, sooner or later. I think that is precisely the reason why Keynes is an easy policy to digest for the politician. It shows action – one must do something about the crisis now! To rephrase Keynes – in the long run… every politician is dead. Hayek on the other hand possibly tells us to sit tight and bear the pain. Pain is essential but only the tough will survive. Otherwise you will get misallocated funds, inflation and an attempt to prop up the weak, that should have died in any case. Today I see it very clear. Hayek seems right. India followed a loose monetary policy as a knee jerk reaction to the global crisis. We wanted to be seen as a government ready to fight the recession and protect growth at all costs. I too believed in it. What is life without growth after all? So in effect we attacked degrowth when there was none at all. What only happened was that we grew at a lesser pace than before. Which is a natural thing. It is a natural response to the economic situation. But if our FM wouldn’t have done anything, he would have been pillared for twiddling his thumbs. Also the argument could also be that inflation is a lesser pain than unemployment. So possibly Keynesian policy is possibly the right way to go.
Then you add the NREGA effect to this. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is an Indian job guarantee scheme, enacted by legislation on August 25, 2005. The scheme provides a legal guarantee for one hundred days of employment in every financial year to adult members of any rural household willing to do public work-related unskilled manual work at the statutory minimum wage of 120 (US$2.43) per day in 2009 prices.
When the Congress government kept announcing schemes to promote the socialist agenda, I was the lone dissenter. WTF. We can’t ensure we get any public distribution right, and none of the schemes really work , so why should we support these budgets and call them great budgets. The markets loved them and all was forgotten. Some even attributed some the victory to the NREGA program – read this http://imaginingindia.com/2009/05/28/after-the-election/ . Interesting.
So now you have a lot of money being pumped into the economy. More money and my daughter will tell you – inflation follows. And it does. So we have inflation with prices rising. So now the government tries to control inflation by raising interest rates and attempts to suck out liquidity. It is squeezing our stomach while tightening our belts. Can I hear Hayek laughing?
After all this I was wondering why we never learnt Hayek in economics while we heard of Keynes. A chance encounter with my economic teacher and I got the answer. Keynes is taught at graduate level while Hayek is taught at post grad level. Oh Stupid stupid idiots who set the curriculum. Most of us are going to go through life with a graduate degree. So now we know what to do without understanding eth consequences of what we do. So year after year you will have students who understand that governments must interfere must have not been taught what happens when you do interfere. Oh this is such a wonderful example of our education system. Most of us are graduates with some exposure in economics before we move on to our other streams, possibly management and go through life not knowing about the other side. Sheesh.
Forget it. I am getting too depressed. But here, while we are swimming in different theories, here is one more. I think the reason you will see inflation is because the RBI wants us to see inflation. Economics is nothing but a game that is being played in our minds. Recession happens when we feel not so confident about the future, growth is when we feel better about it, inflation happens when we feel that we have more money and want to spend more to get a good. Economics works in the collective and indivual minds of the people, and our country is not all educated. I am sure not a large percentage of the population has anything to do with economic theory. They behave in tune with what they see. They don’t understand inflation and sentiment. They care if Greece is going nutty printing money. They react to what they see. And the Government or the RBI is telling them in their face that the RUPEE IS DEVALUING. The RBI is taking extra care to ensure it happens. How is that?
Well its simple. They are now telling you that the rupee is now worth a lot less. In fact through a very powerful visual it is telling the population that the rupee is now almost half of what it used to be, sometime back. Don’t believe me? See this… the old rupee and new one rupee coin.

the date on the big one is at the back -2010 and the new one is dated 2011.
Now any illiterate person looking at the coins will also tell you that the rupee is not the same anymore. It has shrunk. And hence now you require twice as much material to be worth the old rupee. In effect the new rupee is half the old one. INFLATION!
I know it’s a corny idea, but I firmly believe that symbolism matters. We decide a lot on the basis of what we see and interact with. Surely the shrinking of the rupee is not just because we shrunk the size, but this is a clear admission of the fact that it has shrunk so those who don’t believe in it, kindly start now.
the Hayek versus Keynes podcast can be accessed here -http://www.npr.org/blogs/money/2011/10/28/141802704/the-friday-podcast-keynes-vs-hayek Listen to it. its fun.
Friday, November 04, 2011
lucky chic
As I have blogged earlier, I have some great times with Jispa telling her stories from my life. Some older stories of me as a kid. I then build on it and talk about it and our conversation progresses. Last week we were staying at this amazing place called the hermitage guesthouse. No electricity, no phones, no network. Awesome fun. I am quite proud of the way Jispa is now easy with the leeches. She just picks them up, rolls them and flicks them out. A real pro. One day we went hiking up the highest point of the area. At a 1000 meters above mean sea level, it gave some of the most spectacular views of the region. Jispa is quite the enthusiastic climber. Light with strong legs she manages to reach up and keep pace. It was coming down she got tired. On her way back she wanted to rest and was tired.
I then used the trick that seems to be working these days. I told her that if she kept walking I would tell her stories from my life. And I told her stories from my life and she kept walking. I told her about how when I was in fifth standard, when we were at Ahmedabad to attend a weeding when dad got his first heart attack. How an attack works. How the heart is a muscle and how the arteries carrying blood get clogged by cholesterol and stop the blood form flowing. How the heart loses power and then works at lower capacity. And we spoke a whole host of things. Soon enough, we reached the base of the hill and that brought us to end that conversation.
During the drive back home later, we also spoke about Hero ink pens and E=MC2. Don’t ask me how it got there and when she understood from it. But yes we did discuss electrons, neutrons and atoms and molecules and some part of the periodic table.
A few days back while waking her up I was speaking about an story. How when we were younger and growing up, we did not have any brands in the country – no coke, no addidas, no MacDonald’s, no lays, no kurkures nothing. Not even faber castle crayons or stationery. We had no book stores like crosswords and we hardly had books. All we read was the amar chitra katha. And I went on and on. I said that that time India did not want these foreign brands to come into the country and we were scared of them and hence we had very little choice. Then in her half sleeps she asks ‘this is because of what they did to us?’. Huh? “What who did to us?”. “This is because of what the British did to us”. “Who told you that Jispa?”. Her standard reply in these cases – “my brain”. I was pretty skeptical. I quizzed her further. She told me that he teacher had once explained that the British had come to trade with us and then ruled over us and then she connected the dots and voila – this is what her brain told her. Excellent deduction. My baby is growing every day. I guess a nine year old has a decent logical deduction power. We just don’t make them use it enough.
Just the other day I was discussing with someone on the education system; CBSE board or ICSC board or IGSC or the good old now maligned SSC board that I studied in. My belief is that all this curriculum importance is a bit over stated. What is more important is the quality of teachers. I have had my share of really sweet teachers who taught complex subjects well and the idiots who could make any subject dull and boring. Somehow it’s always the Hindi teachers who have been the worst of the lot. A close second come the history and geography teachers. No wonder we have a warped and view of history and our memories of geography is limited to coloring some northern part of Russia blue to denote the tundra region or something.
So coming back to Jispa and her mornings. She summed the conversation aptly by saying – “I am lucky to have been born in 2002 and not earlier”. I think she was almost pitying me. Tch tch.

Friday, September 11, 2009
education... creativity...? the answer is a shel?
The first one was the speech by Obama on education urging the kids to follow through (right word?) on their responsibility towards education. Not bad at all, though I am a bit tired of him talking everywhere. While I might be falsely accusing narcissism what he says is definitely worth listening. It did make sense.
In the evening I came across another video, (actually the audio I heard in a horrific traffic jam) where the sir Ken Robinson talks about something even more pertinent. He argues that the education system designed to aid the industrial revolution post the 1900’s kills creativity and is unable to provide our kids with skills needed or hone the varied skills they are born with. A lovely one that. My favourite line "My contention is that creativity now is as important in education as literacy"
If you have to choose between the videos see the Ken Robinson one. The first is something enforces something you thought to be true and the other one enforces what you suspected to be true.
Choosing one over the other is pretty stupid but understanding the context of one with the other is having the ability to reconcile quadrants.
On the subject of creativity and education, Jispa has an elocution contest on Tuesday. Now I don’t really care if she wins or not but I sure want her to have a wild story to tell and a unique way to tell it. A little bit of overacting may not be out of order. As long its funny and Jispa enjoys it! The poem I choose is a Shel Silverstein one. Those are the best with enough twist on our notion of ‘normalease’. It is called the crocodile’s tooth ache. I found it extremely funny and allows for a play between two characters. The crocodile who is normally fierce is the victim and the dentist who is normally the sweet heat is the perpetrator of the crime. And in the end the dentist’s ghastly end leaves you with no remorse but a sense of justice. That was too much analysis for such a lovely poem. We have lost the ability to see it for what it is…. Essshhh.. Here enjoy it as much I did…it’s in his uniquely gruff voice
Monday, August 24, 2009
let no one tell you...
My blackberry camera has gone on the blink and I do feel quite handicapped without it. Its so much fun to spot something, capture and blog it. But I guess I will have to do something else till such time.
But the of the loss of the camera is replaced by the joy of discovering something awesome. http://www.ted.com/ . It is an awesome site where they put up talks of some amazing people for viewing. The best part is that talks are timed for about 16 minutes forcing people to talk on only what is absolutely relevant and important. It’s just about the time that human brain can focus.
Today I came across (serendipitous) a talk by Ben Saunders. I just love experts talking about their … err…“expertise”. Sports persons especially so. I guess it’s the visible triumph of human achievement. Cracking the genetic code might be of greater consequence or difficulty but a sports person’s achievement has more empathy as we all have felt our own limitations at our arena.
Coming back to Ben Saunders. In 2004, Ben Saunders became the youngest person ever to ski solo to the North Pole. An absolute triumph of human achievement. But the most striking part about the talk is the last bit when he talks about his school report card as a 13 year old. The report card is a telling on the understanding our education system. He says he has framed it and it lies on his wall. It says:
"Ben lacks sufficient impetus to achieve anything worthwhile"
Ben’s response to it:
“No one else is the authority on you potential. You are the only who decides how far you go and what you are capable of”
Well said Ben. Well said.
his talk...
further Ben reading...
Friday, July 10, 2009
time to change times?
So in continuation of my new found passion, here is more Bob Dylan. Learning from mistakes of the last experience I am not over theorizing. In fact I am not theorizing at all. The words of Umberto Eco come to mind - "I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth. "
So hence I am merely reproducing the lyrics of – The times they are a changing. Quite nice poetry. I wonder why popular culture is shunned by the text books. We had the bal bharati series of text books with only works of poets that had died at least a 100 years ago. Don’t get me wrong. They were pretty ok, even inspiring and interesting at times but wouldn’t Bob Dylan in there be cool? I can even imagine my poetry teachers getting a guitar and a harmonica to class and singing the songs. Ok on second thoughts – I don’t want THEM to sing it. It would have made poor Bob uncool. But you get the point.
So before I introduce Bob let me introduce you to some of the poetry I remember reading / learning.
William Wordsworth (1770 –1850)
The Solitary Reaper
BEHOLD her, single in the field,
Yon solitary Highland Lass!
Reaping and singing by herself;
Stop here, or gently pass!
Alone she cuts and binds the grain,
And sings a melancholy strain;
O listen! for the Vale profound
Is overflowing with the sound.
No Nightingale did ever chaunt
More welcome notes to weary bands
Of travellers in some shady haunt,
Among Arabian sands:
A voice so thrilling ne'er was heard
In spring-time from the Cuckoo-bird,
Breaking the silence of the seas
Among the farthest Hebrides.
Will no one tell me what she sings?--
Perhaps the plaintive numbers flow
For old, unhappy, far-off things,
And battles long ago
Or is it some more humble lay,
Familiar matter of to-day?
Some natural sorrow, loss, or pain,
That has been, and may be again?
Whate'er the theme, the Maiden sang
As if her song could have no ending;
I saw her singing at her work,
And o'er the sickle bending;--
I listened, motionless and still;
And, as I mounted up the hill
The music in my heart I bore,
Long after it was heard no more.
I loved this one. I was in love with the solitary reaper. Well yah, in love with the image of the solitary reaper that I had in my mind. This poem stirred up all the newly found hormones of a 14 year old.
------------------------------------------
The next one was a favorite then and is a favorite now. This I knew by rote then and I often quote from it now. It was an inspiring one. I quite liked it.
Henry Wadsworth Longfellow (1807-1882)
A PSALM OF LIFE
The next one appealed to my nationalist tendencies. I was a staunch nationalist. I wanted to join the army. I also completed my C certificate in the National Cadet Corps. I still remember my number - No 1 Mah Air Sqd 91/105601. I am a bit more ambivalent or should I say pragmatic about nationalism now.
Sir Walter Scott – (1771- 1832)
This is my own native land
Breathes there the man with soul so dead,
Who never to himself hath said,
"This is my own, my native land!"
Whose heart hath ne'er within him burn'd
As home his footsteps he hath turn'd
From wandering on a foreign strand?
If such there breathe, go, mark him well;
For him no Minstrel raptures swell;
High though his titles, proud his name,
Boundless his wealth as wish can claim;
Despite those titles, power, and pelf,
The wretch, concentred all in self,
Living, shall forfeit fair renown,
And, doubly dying, shall go down
To the vile dust from whence he sprung,
Unwept, unhonour'd, and unsung.
----------------------------
And now let’s have Bob Dylan. He would have been able to hold his own in face of the older greats. At least in the high school text books for sure.
Bob Dylan (1941 - )
The Times They Are A-Changin'
Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to youIs worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.
Who prophesize with your pen
And keep your eyes wide
The chance won't come again
And don't speak too soon
For the wheel's still in spin
And there's no tellin' who
That it's namin'.
For the loser now
Will be later to win
For the times they are a-changin'.
Please heed the call
Don't stand in the doorway
Don't block up the hall
For he that gets hurt
Will be he who has stalled
There's a battle outside
And it is ragin'.
It'll soon shake your windows
And rattle your walls
For the times they are a-changin'.
Throughout the land
And don't criticize
What you can't understand
Your sons and your daughters
Are beyond your command
Your old road isRapidly agin'.
Please get out of the new one
If you can't lend your hand
For the times they are a-changin'.
The curse it is cast
The slow one now
Will later be fast
As the present now
Will later be past
The order is Rapidly fadin'.
And the first one now
Will later be last
For the times they are a-changin'.
Now that would be pretty cool. Have this in the text book and also have the audio visual play.
As for now – I am inspired enough to play cowboy and shoot with my mouse.

