Some honest remarks from India’s PM on need for economics..

Blogging is the last thing on my mind on a lazy Saturday evening.  However, when one sees comments/speech iike this one cannot control, Thanks to    Nitin Pai for pointing on his very active twitter handle.

In his recent comments at NCAER”s new foundation stone, India’s PM said:

The purpose of the study of economics is not to provide settled answers to unsettled and difficult questions, but sometimes to warn economists and the world-at-large, how not to be misled by clever governments.

I would like to say, that when we study economics, our impulse is not the philosopher’s impulse – knowledge for the sake of knowledge – but for healing that that knowledge may help to bring. These are the words of past thinkers: Wonder is the beginning of philosophy; but it is not wonder, but social enthusiasm, which revolts against the silence of fixed life, and the orderliness of the mainstream, which is the beginning of economic science.

II??II  That is some foot in mouth. Who wrote these words in PMO? Nitin is bang on with his response : sir: Is this a confession?

I think we could rephrase the comments in India’s context as: How a government by having top economists at helm can cleverly mislead its population (including economists) for a reasonable period of time. 

 

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