Have Less Regrets, Go the Economist Way!!!

Economics is a game of choices and so is life in a bigger sense. So it isn’t mad science that we can co-relate the two. And there is this basic terminology in Economics known as ‘Opportunity Cost’ which basically sums up basics of economics. Opportunity Cost is nothing but the alternative forgone for the choice you end up making. In simpler words, you can’t have it all as they say. You can’t look right and left at the same time while crossing a road. Its either the right or the left. So while you are looking at the left your opportunity cost at that time would be looking at the right (which might be matter of life and death 😛 ).

So to get back onto a serious note, we are bound to have regrets don’t we ? We regret not eating that pizza and having to end up eating that bland salad. We regret not going out with friends and having to end up at home during the weekends. One way to have less regrets can be looking at the opportunity cost of the decision you are about to make. I believe its will remove a lot of your regrets.  You won’t completely remove all your regrets but it surely will give you a lesser number of them. But if you end up not studying for the test just because you thought the opportunity cost of playing on your console was higher then obviously you didn’t think it through an economist way or there is some problem with comprehending logic.

So to have a rather enjoyable and regret-less life think like an economists and always be on the look-out for the opportunity cost… 😀 😛


P.S : Don’t end up like this!!! XD

Why you are seeing more photos of your friends in USA if you are of my age right now!!!

Whew… that was a lengthy topic. What i tried there was to include a bit of sarcasm regarding the Indian education system or the lack of it. If you have just graduated, that is you are roughly in my age area then you would have been perfectly acquainted with viewing some friends/acquaintances posting pics of their Universities in US on your Facebook wall till now. Why is it so? Why cant we take a ‘selfie’ with an IIT or IIM in the background? The problem is quite simple actually – We are just not  up to the mark!!! Be it IIT’s or IIM’s the level is just not good enough. Our education system is flawed in its roots. And no tree can actually flourish with weak roots. The schools are the trees and its fruits and flowers are the children.

Pablo Picasso once said and I quote,”Every Child is an artist . The problem is how to remain an artist once we grow up.”  Creativity is something which all of us are born with. We are all born with the capability of raking up our brains to produce something out of the box, something original. But the education at the school level is so flawed that schools spell the death of creativity in India. Once we step into the school we have chosen our destiny.  Children are not allowed to go wrong at any step. You are taught how to be right rather than how to learn to be right by going wrong which I believe is very important. I will point out my education background which is I guess the same for many of us. i passed out of a school which gave very less importance to extra curricular activities. The only thing that was fed to us was to be top of the class. If you were weak in academics you were looked down upon and thought of as good for nothing. To make matters even worse we never learned to question anything. It was like we were digesting anything that was being fed to us with no regards as to what it was or why it was so. Music was looked as a class to have fun rather than actually generate any interest in it. Sports class was barely a period to showcase our gully cricketing skills to our classmates rather than actually thinking about it as a profession and Dance was non-existent. Maths, Science and Languages were always the top priority. Our education to actually pass out from high school with top marks starts 10 years in advance to that point that is when we are in mere first seven or eight. Let alone teachers even parents just want their child to be a corporates. One argument is that parents are quite adamant with the fact that India has less or no scope for music, dance or a matter of fact Sports as a career choice. Now there is no scope because they are not encouraged at school or they are not encouraged because there is no scope is up to you to decide.

College is no better. We boast about IIT’s and IIM’s but they are no better.  We just think of them highly because we have been told to. Almost half the students in their junior college spend all their time to get into IIT’s. But what are they taught there. No more than how to land a top job or how to get into an Ivy League. There are only a handful who actually go there with an aim to learn and innovate. They are not spared from the rat race. I will point out a regret I have having passed out from an engineering college. The thing I learned the most from my four years were to work under pressure, to multitask. I was never really made to fall in love with the specialization I chose. I was definitely interested in it when I opted for it but they were taught in a manner which just scrubbed off all interest from within me. And to add to it we were never taught subjects which are really important like economics, finance. Even a subject on management was kept only for the name of it.

Now comes the part of your friends going to foreign Universities. The thing is they had to. There are two major reasons for it – firstly, they guarantee fatter paychecks. I personally don’t believe all of them go there because their education is better. And secondly, the level of competition is higher in India owing to the reservation system which i wont divulge into. It all comes down to the colleges and universities not being efficient in our country. And to add to it We Don’t Care!! The other problem that I find which may not be directly related to the education system are the lack of role models. For many of us our role models are mostly our parents. We want to grow up to be like them. I believe they become our role model out of lack of choices. Teachers are meant to be role models for children but they are not. We actually end up with nobody to look up to as we mature. There is no one who has done something out of the ordinary to really catch our eyes. hence by default we fall back on our parents. Indian society needs role models to actually guide children towards the future they want to see rather than the future we want them to see. 

I would like to conclude with a statement that really had me thinking.

‘We are never really educated. We are taught to be literate.’