Economics – An incomplete tool

Since the last week, and for me, more so since last two – three years it’s been a realization, how economics as a global driving tool is pushing everyone to think in terms of money, putting everything in terms of its monetary value.

Relating it to an instance which explains the ugliness of the concept, it was during one of those college days when we were enjoying a ‘grub’ which means a special dinner, and one of us asked the other in the group on his comments about the food, and we got back an astonishing reply, his reply was not as we generally speak of the food being good or bad or any such but was ‘av plus’. Now what’s amazing about the reply is how it is related to our grading system of CGPA where we place ourselves as average plus, average minus, just about average and so on to know what grade we are about to receive. In the same way when we are presented with a product we don’t ask for its features, uses, longevity rather we ask for its price, its resale value and its reselling power as a brand. So as a person you are not worth the wisdom you have, the education you have done, the amount of good you do but you are worth the cumulative amount of material things such as a car, phone, house, office and whatever else you own.

What I real mean to say is that when talking about nature and natural resources things are more complicated than pure economics, the value we put to a resource depends on our perception and our vision of how far and wide can we see its uses and its benefits. If we take for example the recent example of the bauxite mine from the movie of four ecosystems which we saw, the company and for that instance the state puts the economic value of just the bauxite ore to that place and considers mining to be profitable and beneficial economically. It fails to consider the water bodies, the forest cover and the whole ecology of the place when accounting for economics. Now if we consider all that and I really wonder if we really can because I suppose everyone of us remembers how we hated mugging up the advantages and benefits of forests and water bodies which ran pages and pages and never seemed to finish, leave alone putting an economic value to them.

Just to wrap up I remember how intelligently Akansha mam puts all the blame to fossil fuels being the major problem behind the entire resource crunch, which is so true according to me as well. We as human beings thought of it as a genie which did wonders, gave us so much we never even thought or dreamt of, and when it started ceasing at one place we dug another hole and were so optimistic that it will never end, perhaps thought that humanity may end before it ends which didn’t happen. So we are basically in a situation similar to the person who killed his goose that used to give golden eggs because he was too greedy and wanted to have all the golden eggs in just one go.

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