The Hindu Business Line : <I>The bloating problem </I>

That two economists can hold diametrically opposite views on a particular issue and still be hailed as great, puzzles observers. When some consider planning as a panacea for all economic evils, others feel it is the `Road to Serfdom' (Hayek). Public sectors are a boon to some, but a bane to others.

One would come across any number of views on the desirable level of taxation. And what endless debates on the merits or otherwise of `free trade' and `protectionism'. Also, the simultaneous existence of some symptoms of inflation and a few aspects of deflation is possible as in `stagflation', when even as production stagnates and unemployment tends to increase, price levels keep rising! Little wonder that there is the comment, "where there are five economists, there would be at least six different views on any subject".

Confronted by paradoxes

Added to this, economists confront paradoxes also; "poverty in the midst of plenty'', "shortage beside abundance'' and such things are frequently heard. Just a few years back, there was the peculiar situation when even as overflowing grains in the Food Corporation of India godown was causing concern to the people, there were reports of near-famine conditions in certain parts of the country!

Again, the government's financial status may be constantly one of `deficit', but the worth of the parallel economy (hidden wealth and black-marketing) would be estimated to be several thousands of crores of rupees. Then, what could be more baffling than the fact that the richest country in the world, the US, is a highly indebted one in terms of persistent unfavourable current account balance of payments!

Probably, there are far too many imponderables involved in economic issues. Still, certain phenomena are startling. For instance, the question of obesity. It is becoming a pandemic, and it is feared that by 2010, there will be an `obesity crisis', as the number of overweight children worldwide is expected to increase sharply. This is understandable in the rich countries because, normally, one would associate `obesity' only with prosperous countries.

Baffling co-existence

But what to make of it when even in poor countries such as China, India, and Brazil, this `bloating problem' is emerging? In fact, according to UNDP studies, only underweight children and high maternal mortality prominently characterise these economies (besides the total lack of other requirements for a healthy living). More shocking is the report that there is growing obesity also in Africa — a continent synonymous with hunger. One wonders whether starvation and obesity can co-exist!

In fact, some airlines are wondering why `plus-size' passengers should not be charged extra fare, just as additional charges are collected for extra luggage!

(The author is a Bangalore-based freelance writer.)