'In the long-run we are all dead' John Maynard Keynes 'Keynes is dead; in either long or short run' Sumeet Kaul

Thursday, March 02, 2006

The Accidental Theorists


In the last class of my engineering degree when our teacher asked us what had we learnt in the last 4 yrs.; I said “sleeping with eyes open”. Wrong, I hadn’t. If I had I wouldn’t have to suffer the torture called MBA in its entire splendor. I guess what I learnt from MBA was a greater degree of tolerance for crap. But even an MBA cudnt prepare me for the onslaught that I have gone through in recent times.

We know about the ‘Algebra of Infinite Justice’, though I simply don’t understand the calculus of why a student of architecture should be awarded a Sahitya Academy Puraskar for a book dealing broadly with international relations. I can tolerate it when Arundati Roy writes crap on international relations, I can still tolerate it when she speaks further crap on India’s large hydroelectric projects.

But I can’t TOLERATE it when she speaks crap on economics. I don’t tolerate crap on economics by anyone.

Here’s the deal if u have anything to do with McDonalds, Coke, Bush, Disney, Security Council, India’s nuclear program, IMF etc. etc. Arundhati hates u. Why? Cauz u represent an American attempt to dominate the world, just like the evil scientists in James Bond movie.

In her speech (with a title ‘Do turkey’s enjoy thanksgiving’) at World Economic Forum, Arundhati Roy gave many seemingly persuasive reasons for hating globalization. She poured out this passion again & again & again. Whenever, anyone gave her a chance to write/speak in anything that people read/see/ignore/tolerate.

Why do people like Arundhati hate globalization, without really having anything much do with it & without ever understanding it all that well. Paul Krugman calls such people “Accidental Theorists” read his book with the same name for details and fun.

I think the answer is Bond, James Bond. Such people live in a world that is just as gloomy & as wonderful as that of James Bond. That is why they need ‘evil scientists’ trying to rule the world a role given to US. They then take on the onerous mantle of James Bond and try to save us from evil.

In the real world we are all evil, except for those who are too weak to be evil.

P.S: I will not be an accidental theorists myself and defend globalization when I don’t understand it all that well (despite having taken about 3 courses in MBA relating to it). But I trust policy makers and Professors at MBA who tell me that by & large globalization is good. What’s bad is relying on markets to do what is your responsibility like reducing poverty, like stopping people like Kenneth Lay etc. etc