When 1.21 billion people cheer in unison, toast their team and one another, the elated mood it generates can only be good for the economy. The World Cup victory by Dhoni's boys will boost not just cricket and sport but the economy in general. It will serve as the mood changer the nation needs to break the weariness of spirit created by a seemingly endless stream of scams and political skulduggery.
Why, champions of logic might well ask, should the positive fallout of a victory on the cricket field go beyond the breweries that supply liquid accompaniment to happy hours? Quite fortunately , economic behaviour is not hostage to the constricting rigours of rationality. Behavioral economists have disproved the conventional wisdom of theory that rationality has economic agents in its thrall.
In any case, even perfectly rational people display completely weird behaviour in the absence of perfect information. This being the case, let us not worry too much about theoretical objections , such as they are, to the positive externalities of a cricketing triumph. For a large number of young Indians, it is routine to find the names of their compatriots liberally sprinkled over assorted honours lists: dollar billionaires of the world, the aristocracy of information technology, finance wizkids and so on. What is puzzling is the absence of Indians in the league tables of sporting achievement.
That India won a cricket World Cup ages ago serves only as a prickly reminder of contemporary failure. It is this yawning gap in the collective sense of achievement that Saturday's victory at the Wankhede stadium fills. True, it is just a tiny section of the population that is fortunate enough to have only sporting mediocrity to worry about.
But it is this self-satisfied section's combined actions that go on to determine how fast the economy would grow and how far the resulting prosperity spreads. The whole point is that their success enlarges their tribe, embracing ever larger sections of the population. Team India celebrates India's national theme of unity in diversity. Indeed, India needs to soak in the message of united striving, to achieve more substantive success in the world of material progress.
Why, champions of logic might well ask, should the positive fallout of a victory on the cricket field go beyond the breweries that supply liquid accompaniment to happy hours? Quite fortunately , economic behaviour is not hostage to the constricting rigours of rationality. Behavioral economists have disproved the conventional wisdom of theory that rationality has economic agents in its thrall.
In any case, even perfectly rational people display completely weird behaviour in the absence of perfect information. This being the case, let us not worry too much about theoretical objections , such as they are, to the positive externalities of a cricketing triumph. For a large number of young Indians, it is routine to find the names of their compatriots liberally sprinkled over assorted honours lists: dollar billionaires of the world, the aristocracy of information technology, finance wizkids and so on. What is puzzling is the absence of Indians in the league tables of sporting achievement.
That India won a cricket World Cup ages ago serves only as a prickly reminder of contemporary failure. It is this yawning gap in the collective sense of achievement that Saturday's victory at the Wankhede stadium fills. True, it is just a tiny section of the population that is fortunate enough to have only sporting mediocrity to worry about.
But it is this self-satisfied section's combined actions that go on to determine how fast the economy would grow and how far the resulting prosperity spreads. The whole point is that their success enlarges their tribe, embracing ever larger sections of the population. Team India celebrates India's national theme of unity in diversity. Indeed, India needs to soak in the message of united striving, to achieve more substantive success in the world of material progress.
1 comments:
When i will order the dominos pizza i got one surprise and great news from other side. last time india vs australia at that time i bought one pizza. india will win first time defeat in anustralia in world cup match semi final. so i bought 3 dominos pizza they will 30 differ run.. oh next time i will bought 10 pizza. india will win by 10 balls remaining what a pretty. thanks dominos pizza
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