This piece is in tune with that good old adage about Right Thing at the Right Time and Right Place,
One wishes that this particular passage in the article - "If there is a drought and food prices go up, or the global oil cartel decides to push up the price of crude, the resultant spurt in prices cannot be addressed by raising interest rates. These prices should be allowed to work their way through the system, to force people to make adjustments in their consumption pattern, finding substitutes where possible, making efficiency gains or curtailing consumption. It is only after this has happened that monetary tightening has a role." is read and fathomed by the powers-that-be which decide crucial plans and policies.
Simultaneously, let the entire nation realise and urge upon the government to tackle the grave menace posed by the hoarders. It is this clan of Lalas, Banias and assorted lot that capitalises on both natural and man-made calamities leading to shortage of essential commodities and also other consumer wares or durables to exploit both the masses and the classes. Of course, the resourceful 'haves' may have means to meet such situations but what about the 'have-nots'?
My views may sound weird and silly to many when I assert that AUSTERITY in life-style is the sole solution.
For the past six years I have been unemployed but not out of job in the sense freelance assignments, though irregular, have been my sole recourse to live and let live. In such a scenario austerity has happened to be my sole recourse to face the enormous odds. So much so a couple of a couple of acquaintances and even close friends ridiculed me when I confided in them that rice gruel (GANJI in Kannada, KANJEE in Tamil & Malayalam and MAAD BATH in Bengali) has kept me going.
By and large, such a gruel as a diet, is deemed to be the food of the 'have-nots', similar to SATTU in Bihar and eastern UP being regarded as the food of those engaged in manual labour and not necessarily for the sedentary types.
As such austerity in life-style is the need of the hour for both the rulers and those who are ruled.
Excellent response and I'm in consonance with your austerity in life-style view. Thank you, and stay safe, dear loyal people's Feature Editor in India.
The opinion offers a pragmatic argument with examples against a position taken up by the critics & economists for resultant inflation. Great that you've applauded the central bankers. The queerest arguments presented by world renowned economists may tickle agreeably with your sense of ingenuity and great understanding of economics with policies, and so much more.
Good persuasion in lucid explanations throughout the opinion. It is good to prickle up critics' ears.
I hope critics of monetary policy can read & understand, overcome scruples including asking you genuine questions, finally and happily nod their heads and say thank you with a smile.
Afterall, this is a fiscally prudent opinion. Huge thanks for writing on all important current affairs topics.
This piece is in tune with that good old adage about Right Thing at the Right Time and Right Place,
One wishes that this particular passage in the article - "If there is a drought and food prices go up, or the global oil cartel decides to push up the price of crude, the resultant spurt in prices cannot be addressed by raising interest rates. These prices should be allowed to work their way through the system, to force people to make adjustments in their consumption pattern, finding substitutes where possible, making efficiency gains or curtailing consumption. It is only after this has happened that monetary tightening has a role." is read and fathomed by the powers-that-be which decide crucial plans and policies.
Simultaneously, let the entire nation realise and urge upon the government to tackle the grave menace posed by the hoarders. It is this clan of Lalas, Banias and assorted lot that capitalises on both natural and man-made calamities leading to shortage of essential commodities and also other consumer wares or durables to exploit both the masses and the classes. Of course, the resourceful 'haves' may have means to meet such situations but what about the 'have-nots'?
My views may sound weird and silly to many when I assert that AUSTERITY in life-style is the sole solution.
For the past six years I have been unemployed but not out of job in the sense freelance assignments, though irregular, have been my sole recourse to live and let live. In such a scenario austerity has happened to be my sole recourse to face the enormous odds. So much so a couple of a couple of acquaintances and even close friends ridiculed me when I confided in them that rice gruel (GANJI in Kannada, KANJEE in Tamil & Malayalam and MAAD BATH in Bengali) has kept me going.
By and large, such a gruel as a diet, is deemed to be the food of the 'have-nots', similar to SATTU in Bihar and eastern UP being regarded as the food of those engaged in manual labour and not necessarily for the sedentary types.
As such austerity in life-style is the need of the hour for both the rulers and those who are ruled.
Excellent response and I'm in consonance with your austerity in life-style view. Thank you, and stay safe, dear loyal people's Feature Editor in India.
Best regards,
Vandana
Dear Prudent Political-Economist Editor,
The opinion offers a pragmatic argument with examples against a position taken up by the critics & economists for resultant inflation. Great that you've applauded the central bankers. The queerest arguments presented by world renowned economists may tickle agreeably with your sense of ingenuity and great understanding of economics with policies, and so much more.
Good persuasion in lucid explanations throughout the opinion. It is good to prickle up critics' ears.
I hope critics of monetary policy can read & understand, overcome scruples including asking you genuine questions, finally and happily nod their heads and say thank you with a smile.
Afterall, this is a fiscally prudent opinion. Huge thanks for writing on all important current affairs topics.
Creative soul and well-informed ordinary reader,
Vandana