After several bouts of inspiration drawn from a few highly revered (and equally witty) blokes like Tim Harford, Dubner&Levitt and both my parents who are associated with economics, I have decided to document my everyday experiences from an economic perspective. T'is quite a coincidence that I attended my first lecture of global economic perspectives today and I devoured (quite painstakingly) an entire issue of the economist, the complexity of which anyone worth his/her economic salt would vouch for!
Now without digressing, let me quickly throw some light to the unsuspecting reader about the genesis of my blog's title- Why do I call myself the wannabe economist? For starters, try as my might, my fundamental understanding of economics is still not in place. And I am not quite sure who to attribute this problem to, considering every stakeholder in this (mis)happening is a rational member of the homo sapien species. How can I,as a wannabe economist, still grappling with the difficulties of this proposition and yet to come to terms with this fact, test this hypothesis? Very frankly, my sample size is pretty small (2-3 end term exams and 3-4 quizzes, if they qualify) and biased too.
But having said that, ain't all of us, who, in spite of our innumerable and ostensibly sustainable competitive advantages, wannabes in some way or the other? Before raising an eyebrow, consider the fact that we live in a highly volatile and dynamic environment which, at each plausible opportunity that can be seized, threatens to change its plethora of colours that it can take and leave us clueless and flummoxed? An optimist would, in all probability, decide to glorify and romanticize it and urge us to look at the brighter side of things and the variety of opportunities the situation presents to us.A pessimist would talk about how dilapidated and disfigured the state of affairs are and how a renaissance or reformation is imperative to save the cosmos.
But hey, I wanna be an economist - So, I just choose to rationalize it! And talk about rational choices and marginal utilities and market forces and phew, u name it, I blither about it. Well, I hope to be a little more euphemistic and politically(economically didn't sound right) correct from my next post.
Thanks for your patience. And don't blame yourself for wasting your valuable time(Erm, how do you value time btw? Valuation models more efficient than NPV and IRR,anyone?).You are after all, rational beings who would have weighed your future costs and benefits of going through this exercise even before you started moving your eyelids over this post (Subconsciously,maybe,but certainly). Allow me to convince you how, in the next post, in which I'll draw a cue from the honourable Tim Harford for whom I have truck loads of respect(Sorry,Tim, I didn't know a better way of quantifying my respect) and talk about the perceived costs and benefits of "wasting" time ;)
Until then, Au Revoir! :)
