Financial Daily from THE HINDU group of publications
Friday, Mar 22, 2002
Financial Daily from THE HINDU group of publications Friday, Mar 22, 2002 |
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Opinion
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Letters Conmen
This refers to `The `con' game' (Business Line, March 16). Most problems, social or political, are basically economic in nature. One can argue that all self-interest is not economic in nature. But consider the following cases: Government employees oppose privatisation; a caste wants to be called `BC', but still considers itself superior to lower castes; savers want higher interest rates while the borrowers want lower interest rates. All studies in economics agree that human beings and groups have self-interests; the purpose of economics is to solve issues while accommodating such conflicting self-interests. One would not disagree with the view that most practising economists are `conmen'. But that is true of any other profession. Economics, as a subject, does not con anyone. L. Somasundaram
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