By Deputy Editor, Ekanshi Makheja With elections around the corner, I believe it is important for people to understand the concept of ‘no free lunch’. It describes the cost of decision making and consumption; it implies someone somewhere has to pay the cost of goods and services being consumed. A free lunch refers to a [...]
By Ekanshi Makheja, Deputy Editor Introduction to Behavioural Economics People think Behavioural Economics is a relatively new field of economics, yet the first-ever behavioural economist happened to be Adam Smith! The core assumption of neoclassical economics is that agents choose by optimising their decisions based on predefined constraints, but it wasn't always that way, Economics [...]
( By Rama Vivek Gulavani, Junior Editor ) The year was 1919, when the Palace of Versailles stood on the outskirts of Paris, waiting to create global history. The marble walls of the hall of mirrors had the presence of 27 delegations representing 32 powers. The four representatives of the principal allied powers—France, the USA, [...]
By Ananya J., Junior Editor A research paper titled “From Cradles to Canes: the Cost of being a Female Consumer”, noted that throughout the course of their lives, women pay a “gender tax”, wherein they incur a hefty amount to purchase similar products as men. To give you an idea of this hefty amount, the [...]
By Jasveen Kaur, Junior Editor In a binary world, where artificial intelligence is blending with artificial insemination, this article delves into the intricacies of Reproductive Technologies, unveiling concealed facts and delivering the true picture of the so called, ‘Modern Society’. The development of reproductive technologies is a long and intriguing one. Some of the earliest [...]
EXPLORING THE PURCHASING POWER OF THE LGBTQ+ COMMUNITY By Shreya Srikoti, Deputy Editor INTRODUCTION The LGBTQ+ communities have come a long way. From being taboo in society to being accepted as they are, their journey is full of struggle and hardships. But, their journey does not merely end in being accepted in society as a [...]
By Annavajhula J C Bose, PhD Department of Economics, SRCC Like George Orwell’s portrayal of state or party surveillance (Big Brother is Watching You), Shoshana Zuboff, as you see above, has got a ground breaking portrayal of the surveillance capitalist practices of corporations such as Google, Facebook and Microsoft. Shoshana, a radical professor retired from [...]
By Junior Editor Ekanshi Makheja Boycotts have been a form of protest for centuries, but in the age of consumerism, they have taken on a new dimension. Consumer boycotts typically involve consumers choosing to stop buying a particular product or service in response to some perceived injustice or wrongdoing by the company that produces it. [...]
By Vedika Sakhardande, Deputy Editor “Reason alone can never be a motive to any action of the will; that it can never oppose passion in the direction of the will” Hume, Treatise, Book II, part III, Section III Preferences or the ‘action of the will’ drive the social and economic spheres of our lives. Our [...]
By Vedika Sakhardande, Deputy Editor Our daily decisions are based on the information available to us. Our decision of whether or not to carry an umbrella is based on the probability of rain. Similarly, the decision of whether or not to speed through a stoplight is based on the probability of police being stationed around. [...]
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