teaching some economics to our leaders part-1

Teaching some economics to our leaders part 1

Indian rupee is now the focus of attention. Gandhi notes not of Nehru dynasty bearing 100s and1000s have become just a piece of paper not even worth for toilet purpose. But the PM has given time for exchanging the old into new notes .I have not watched TV debate on this subject.

I remember an English movie seen long ago wherein a gang attempts to print British pound sterling notes on a day when football match was going on in Bank of England. After the print out they notice that the colour has faded/changed and get frustrated. One fellow will take a note and light his cigarette and another take a bunch of notes and put them into the holes of the canvas shoe.

Going back to our surgical strike on Gandhi notes  honest tax payers need not worry whatever the  rules the govt may  formulate  provided they  are the regular tax payers   and their taxable income is below the limit and hence have not bothered to collect the pan number or  file returns .The govt must focus on those who have  the stock of wealth and the flow of income  but did not bother to realize their citizenry obligations to government .

Being a passionate teacher and reader in macro, monetary and international  economics for more than four decades I felt that daily I should work like recditing prayers which I do not normally do.

Once this becomes the habit  and walking also becomes an integral part of my lazy life  then I will write sambandhan’  wickipedia  on the financial crisis of 20 th century  my dream project

What I write in the next few days will be from my memory  and after 2017  I will try  to collect my notes and books and write in a different style  but in an understandable language…I seek the divine intervention to make me work on a daily basis…..In case I commit any mistake or the treatment of the subject is not adequate  you can correct me

I keep all my students in mind especially the MIM guys  and the list is long to narrate.  Already I have written to narendra  perhaps this will be the continuation of that exercise and I will be connected with my students spread all over the world.I  sit before the laptop(which gives lot of problems as it has aged) and the time is 2 AM…It will take some time to regulate my sleep pattern and study schedule  and I also want to relax in the retirement period by spending more time on the beach…… but at that time  Harikumar’s  the courage to Act or Armstrong’s The future of Money or Suresh Neela kantan’s  soros book on euro will be my companion…..it is easy to say   dream   but very difficult to do    I have been sufficiently and affectionately warned by Citi bank Sampath kumar that I should work more and write more on economics     the time has come now thanks to MODI’s shock  I will begin with money Keynes and Friedman   -all in the context of  the current situation  educating the rulers who may not have read the subject as I have studied   It is not knowledge  but the feel   like love feeling for the subject that matters most