No I am not starting a boring anecdote of the topics that have made a large number of final year students like me insomniac. Lots of dissection has already been done on them: their causes,etc. Some over enthusiast like me can go through the blogs of Paul Kruggman and Gregory Mankiw in order to find out more. However today something came in my mind: A different reason for the cause of all the doldrums in the economies. It occurred while I was having lunch and this stupid show was running on the TV. "MTV Roadies" - I know some of you out there would be swearing to kill me. Human being aspires money, glamor, power. Perhaps the glamor aspect of these shows is what keeps them running.
Q: So what has got to do with economic recession ??
A: Think a little differently. Look at the people out there who has got all those three above mentioned booty. They are the movie stars, certain other people from the glam world, ministers and sportsmen (for India only the cricketers). Now when an academician finds that a certain guy who has not got even one-tenth of the grey matter that he possesses makes some 50 to 100 times more money than him it would require a lot of altruism on his/her part not to feel jealous and frustrated. The result is you would find Phd-s in physics from top US universities moving to GoldmanSachs as investment banker. Read the book "My life as a Quant". Certainly the last resort of the desired three and plenty of them. The desire increases, the desire for more and quick. The story after this, can be related to the subprime story and the consequent problems the world is facing today. Was everything too far fetched?? Well may be.
~ Perhaps the greed factors are omnipresent in the human beings.
~ Perhaps I was trying to connect everything to something else: What can make people aspire something more constructive
~ Perhaps the media can help by glamorizing something else. And not how to be "cool" and/or "hot".
~ Hypothesis: MTV Roadies (I am using it as a representative) the real reason for everything.... Did I strike?
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