A Satirical Approach to Disprove Neoliberalism

There have been many discussions in our class lately about neoliberalism and the Washington Consensus that have changed my outlook on the economic history of the world quite drastically. The Washington Consensus was basically the commonly held belief among the leaders of developed countries in the late 1970s and 1980s in neoliberalism and the superiority of market forces. For the uninitiated, let me just briefly explain. Basically, in a neoliberalist world, there are three key dogmas:

1. Markets, market forces & privatization - Good
2. Governments - Rubbish
3. Government regulation & intervention - The spawn of Satan

For years, neoliberals have pushed for further deregulation of markets and privatization of strategically important national industries. Their argument is that only market forces work and are far more efficient than government forces, but just how efficient is a system, when it works great for a little while showing tremendous results and then blows up gloriously in your face, once every few years? Atleast that is what happened in the developed countries; in the developing world, it was just one catastrophe after another with economies collapsing like dominos.

We, now know, that neoliberalism can't work in the real world - thank you Wall Street for that valuable lesson. But if that wasn't proof enough for the neoliberals that market forces alone are not the solution to every situation, here is yet another argument for them, arranged, rather delightfully, in the comedic stylings of Hugh Laurie and Stephen Fry from their show, A Bit of Fry and Laurie. This wonderfully framed political satire was made as part of the pilot episode of the show, way back in 1987. It really makes one wonder what the world would be like if it had paid more attention to satirical BBC comedy shows... Perhaps, its time I started watching more comedy shows, all in the name of economics, of course...

Ten Commandments for a Respectable Academician

This is something I wrote ages back in middle school. Fortunately, or rather unfortunately, it is still applicable in my life. So here goes...

1. Thou shalt sleep in class.
2. Thou shouldst be wholly present in body and soul for all class activities that consist of annoying thy comrades & harassing the professor.
3. Thou shalt indulge in gluttony when it comes to the lunches of thy comrades.
4. Thou shalt hate some of thy neighbours.
5. Thou shalt propagate this holy message by means of desk correspondence or notes.
6. Thou shouldst not be caught propagating the holy message.
7. Thou shalt never commit the paramount sin - paying attention.
8. Thou shalt never be seen taking notes as God spake unto Gates and said, “Let there be Powerpoint.”
9. If thy heart be pure, thou shalt never whisper or talk in class – thou shalt leave.
10. Thou shalt worship us, the authors, as thy creator and cower before us in fear and obedience.

A Bad Case of Examotitis

Symptoms: Dark circles under the eyes, insomnia, extreme caffeine dependency, memory of a goldfish and tea strainer combined, jitteriness, lack of appetite (or in some cases, extreme hunger), and a bad temper.

Yep. The past few weeks, we have been down with a bad case of examotitis...

Don't you miss those days when you could pelt the boy sitting in front of you in the examination hall with a tiny rolled up millimetre of paper torn from the corner of you question sheet to mouth exaggeratedly to ask for the answer to question 1, part 2)b): What is the difference between the free cash flow model and the something equities model?

Or all the times when you have contemplated writing some key formulae on your hand so you wouldn't forget them?

Or the good old "oops-I-dropped-my-pencil-I-need-to-pick-it-up" trick and then while you are down there might as well ask your neighbour for the answer anyway?

Technically my exams aren't over yet but soon... Soon... This time around our exams were case exams were we had 72 hours and 48 hours to solve them. Piece of cake I thought. We will plenty of time to finish and we can research the answers on that storehouse of useless information - the Internet...It is almost sad how disillusioned I was by the end of it.

The problem with open book exams like these is that the pressure is enormous. You can never tell anyone that you didn't know what the answer was, or that you had a temporary lapse of memory or that you got so nervous you made a careless mistake, or even that you wrote the wrong answer for the wrong question. You have to be perfect and you know it. The thought that comes to your head when you are struggling with it is, "Well, I have all the sources I could possibly want. If I miss anything, it will just be do to my laziness to look for it."

Many things can go wrong in such an exam. There is an immense potential for distraction in such a long period of concentration. After spending 10 hours in a day trying to solve a certain problem of bonus calculation, your attention wanders hopelessly fascinated by any small thing like a gold fish in a new aquarium...Picture yourself sitting there thinking of a goldfish and making funky fish faces with only 4 hours till deadline.

A fun thing that can happen as a result of such intense work is that you feel bonded with your team and a culture emerges with its own symbols and rhetoric. I experienced this for real in our group for our MCS exam. We were stuck trying to think of a solution for a particular aspect of our case. Finally, after 2 hours we had a breakthrough. Group member 1 got so excited that she threw her hands up joyously and exclaimed that group member 2 (the girl who came up with the solution) was the "King". After that epic moment of exultation, it became official that the highest praise we could each other was that of "King"liness.

In the end, all the arguments, pounding fists on the table during arguments, constant nitpicking were all forgotten in favour of proud moments of shining teamwork. And of course, we can't forget the sense of wonderful satisfaction and accomplishment that is part of the package. All in all, a very "King"ly feeling indeed...