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Sunday, October 30, 2005

Money

I was reading Paul Krugman's The Accidental Theorist and it came to my notice the impact money has had on humans is more than any other variable. There is nothing in this world which moves people as much as money. This is a danger to the whole world.
Recalling the origin of money; it was introduced as a medium of exchange so as to make life easier for man! Now it has become the sole motivating factor for any achievement either directly or indirectly.
Krugman has also criticised the pegging of a currency to the gold. When i went through this book it struck me that politicians cannot make rational decisions concerning a nation especially its economy. Thus economists are necessary.
Sadly, India has very few economists when compared to politicians. One more observation is that people are willing to sacrifice their non monetary benefits for acquiring more money. For example people work overtime, work for leave salaries, etc.
For a better insight go through Krugman's book.

2 comments:

Maya Cassis said...

I'd rather go through a book written by you cos I don't think I have understand anything of economics ever until I have met you.:)

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