Today's era can be termed as the Economic era. This is a blunt & a clear-cut fact. With passage of time, Economies are gaining higher advantage to Societies, making Economic relationships & interactions more essential than before. The institutions, Societies, Culture & Ideologies are all now based upon the underlying inter-related Economic relations.
Every State, Society, Culture & Ideology is today measured by its Economic productivity & not just blind beliefs. The Current political changes in West Bengal, Kerela & Tamil Naidu are a good example of this rising phenomenon of Economic supremacy. When one looks at the current Political situation, Democracy especially Representative democracy is in majority of nations, all these institutions are analyzed today on their Economic performance.
What is essential to point out here is that the importance of Money(herein referred to as purchasing power) has become the corner stone of every life and a means to enjoy even the non-materialistic joys of life, those who consider it(read money) as something not to run before may soon realize that their lives are carved out to attain this very objective!
Economics thus holds a crucial place in every sphere of life where an individual wishes to gain satisfaction. No, I do not attempt to say that it is the 'end' but it is for sure a 'means' to many ends. Measurement of Governments & Ideologies(such as Democracy, Socialism, etc.) is done more on their ability to help people live a better life which otherwise translates into "having required purchasing power". Now this purchasing power theory is a subjective decision & will be different for different people, more for some, lesser for some.
This thus makes it clear that the more materialistic the World grows, the more dominance will be enjoyed & deserved by Economics & that too a Normative(ethical) economics. Governments, Political ideologies & the people governing these institution need to deliver Economic performance & help people gain & foster wealth to remain in power. Do express your views.
Bhagirath Baria
- Bhagirath Baria
- The Author of this blog has keen interest in understanding Economics and its implications on the Individual and the Economy as a whole. Has been writing articles and analysis of issues that may skip general observation, but exert deep influence on people's lives and their decisions. Discussions and Debates related to conventional as well as non-conventional Economics is done here. The author of this blog doesn't classify himself to any particular School of thought in Economics. He is tilted toward Mainstream Economics, though has keen interest in a few Heterodox schools too. Wishing all the readers a truly enriching experience.
Licensed under Creative Commons
Rath & Economics by Bhagirath Baria is licensed under a Creative Commons Attribution-NoDerivs 2.5 India License.
Based on a work at www.rathandeconomics.blogspot.com.
Permissions beyond the scope of this license may be available at www.facebook.com/bhagirath.baria.
No comments:
Post a Comment
I welcome everyone who want to share their views, oppose mine, argue, agree and disagree with me. Request you to refrain from using abusive language and/or controversial language. Rest, the blog is always open for your views.