My Fantasy about Economics

Close on the heels of Global Economic Crisis,
The deepening crisis in Economics
Especially the crisis in Financial and
Macro economics has come to the surface.
At another time we shall unravel this mystery and history

Let me now rewrite a few lines
by revisiting my dateless dairy .
It is all about my fantasy about Economics.
Kindly pardon me if my eager and fertile imagination
Takes you off the feet.

Economics is essentially
Interplay between Man and nature.
I have learnt from R.A.Mundell.
It is futile to discuss who is supreme?
Man or Nature?
Without quarrelling much
We shall say it is fifty- fifty?
If you embrace and internalize economics,
Conceive and operate
With this kind of reasoning and intellect,
Then economics will be an ingredient and component of your
Physical frame and supreme mental consciousness.

You do not need to worry about any thing in this world.
Economics will lift your spirit to a greater height
Emotionally and intellectually.
Virtually then, you will be
In feverish touch with air and scarce water
The finer Earth and the entire Universe.

Given the entrepreneurial skill and spirit,
Technological upgradation and
All kinds of revolution in communication,
A beneficial collaborative interaction will follow
Among the major inputs, labor and capital
Releasing all productive forces of the economy.

With eager imagination and sense of wonder
And all the cosmic energy of the infinity,
Will they not create a magic of the good market place?
An ideal market economy,
Generating beneficial positive externalities.

Kindly remember, we are only envisaging
An ideal and perfect market world of fantasy,
Each craving for his wages of labor
With Smithian enlightened self-interest
And Keynesian modestly conservative state intervention
In order that, the multitudes of production process
And distribution chain will roll on unhindered.
No shallow recession
Or major depression
Will result in this ideal world of fantasy.

You can sing a song
Of the death of inflation
And demise of Business cycles.
Buy more employment
With less inflation.
For quite some time
A fortuitous combination of this kind
Indeed prevailed
Like a flash of lightening
And pleasant thunder
An era of great moderation in Economics
A golden age of globalization


When all the goods and services get produced
And get tossed and turned in the globalized world
Moving around with surprising rapidity.
Every atomic particle of that basket of goods
Will touch you, heal you
And listen to your agony and joy.
And provide the much needed peace and relief,
Harmony and happiness
Amidst campus chaos.

So, rejoice Shakthi!
Enjoy the heightened romance
With your discipline,
Respecting and reflecting
The very integrity of the eco system
And the vulnerability of the economic system.
Come what may, enjoy today
Live this moment
As if it is the present
Given to you by the Lord of the Heavens .