Keynesian economics has lost relevance in contemporary (aka modern) world. Strength of new economics is speed. Speed is further accentuated by the existence of punishing social media where really you cannot hide anymore.
We have come to expect correction of current order at a very fast pace. This reverberates in all walks of life – we need everything very fast, even better if we are able to achieve all this with minimum effort or fuss. This is now called as being “smart”. Electoral polity in India reflects this facet – we need quick fix solution for our high utility bills, our illegal housing settlement, continuation of our contractual job, our law and order and safety menace w/out going through the pains of long term investment in any of them. Social agenda is back.
It is a good thing if it benefits the strata of society for which it is intended for – but it seldom do, and author is convinced it will not be the case this time around as well. The fruits of benefit are generally consumed by these :smart” people, while the very needy waits on the periphery. Just for an example free WIFI is not a requirement – it is a luxury & it is not requirement of people living BPL. The requirements have never changed – it is food, clothing and shelter; couple of thing however has got added to this list and it healthcare and education. This is by far the most comprehensive list required for sustained survival.
Solution are offered to people next day, the party one choose to vote comes to power. Electorates is thus willing to gambit by voting for parties which gives everything they desire on a platter without caring about long term perspective & why should they? Really speaking why should one wait for job creations for the contractual job to get realized into a permanent seat. Either way, we are not going to live to see resources exhaust – that is for our Gen-Next to figure out. We need to “shut up” calling zero sum game because the zero will not be achieved in our lifetime. One generation will incur debt while next gen will pay our liabilities. We have now rightfully set precedence when compulsive nature of electoral politics will force all political parties to follow suit or shut shop. No one votes these days on Country larger policies – it’s always me first.
Populist measure announced in budget will not solve Country problems, for instance offering free pesticides and to farmer will not stop farmer suicide; their problems are much deep rooted and needs a thorough attention. For sure free WIFI will do little to uplift them. Budget is not the solution – it is just a visual image of a vision. Budget should be a no event as long as vision is known and communicated to all. Giving tax rebates to middle class, reducing duties for luxury items, allocating huge funds to farm sector when actual benefits is lost in the files of bureaucracy, announcing grand projects which never achieve financial closure are long perceived as standard budgets; there was hope that we might see a shift to this traveled path – but recent events have ensured we will not.
Forget Modi or Kejriwal or any personality – electorate has short memories; both had their moment of glory and the day their respective coffer runs out, they will be voted out. History will however remember current phase as a tectonic shift in Indian politics. As much as you want to see success for parties advocating this brand of politics you are amongst the good majority because rest others are being perceived as retrograde who have accepted the current order. Author chose to be amongst the retrograde junta who refuse to accept that next generation will have to pay the debt of my current liabilities.
Lay back and enjoy – festivities are on its way.