I have a gut feeling that something is wrong with Economics. I don't mean the way it is going, recession etc. Economics itself is futile or rather the human activities we study under economics are futile. I also have another gut feeling. There is something wrong with this concept of the world divided as countries. It's something like the animal's feeling of territory, for example what the dog feels when it urinates. Both these will have to ultimately go away. Well I know it sounds revolutionary etc etc. At a young age everyone has such revolutionary ideas. Maybe. But the gut feeling is still there.
Surprisingly this doesn't though prevent me from thinking upon Economics or trying to understand it. Nor does it prevent me from thinking of India and sharing the pride in whatever little successes it has had. I have always liked to read news like this. Please don't overestimate the value of that piece of information. It's just based on the Gross National Income in Purchasing Power Parity terms. And please don't laugh at the reference to Pakistan in that news. Tha't would be cheap. Instead read this and think of not "What the country can do for you, but what you can do for the country".
Probably these articles just say that India is a big and poor country. So what is the future. I mean Economy(oh-the-hated-Economy)-wise. Probably you will find part of the answer here.
"Collectively, these two countries accounted for 1.1 percentage points, or 44 per cent, of the 2.5 per cent growth in world gross domestic product in 2001." Significant, isn't it? Monday, April 29, 2002
