cafeconomics

Hey here are some reform ideas ! Some of them may be naive but hope at least some of them are useful. 1. 21 years of compulsory education for all - 25% free education mandatory for bulge bracket educational institutions - move from mid day meal to two times meal a day for poor children - other children and parents can chip in. No additional burden on government at least in private institutions. Not one child shall remain devoid of education in this country. 2.  One India, One Election (or Two Elections at most ) in a period of five years - if you have so many elections then you have to divide time between campaigning and administration - waste of time and election expenditures. 3. Planned and Calibrated approach towards population explosion - can our cities accommodate, if population rises to 200 crores ? 4. Legalize election bonus - political parties buying votes from citizens -  so why not legalize election bonus ? Show your sources of income. 5. Income/ Wealth based reserva...

 If you are fascinated by the heavenly wonders of astronomy, then look back towards earth and you will find that economics is an equally fascinating area! Here are a few paradoxes from everyday economics which seem absurd at first sight but are real (and sometimes funny!). 1. The tail wags the dog: Suppose you are extremely thirsty - you go to a wayside store and buy a water bottle. What is the worth of the first sip of water? Way more than the price you pay for the bottle right!? With each subsequent gulp of water the utility of water decreases due to diminishing marginal utility. Similarly, any good or service that you purchase includes remuneration to the producer for undertaking the risk of production and the price that  you pay may be way more than the costs of production. In the figure above, the demand curve represents the marginal utility derived by a consumer by consumption of the good. As you can see, it is downward sloping because, with each successive unit of cons...