This article precisely explains, questions what we all used to ponder about.
For example when teaching Economics to an Intermediate student belongs to a country from Sub-Saharan Africa how can one explain what "ADVANCED ECONOMY WITH UNUSED PRODUCTIVE CAPITAL - FACING DEPRESSION" really means. Things they witness in their lifetime are perpetual poverty, hunger, malnourishment, death - "UNUSED PRODUCTIVE CAPITAL" is a concept from MARS to them and to the majority of the world.
But because of the development of the subject in developed western world it never really bother about the problems faced by majority of the world.
Even the existing explanations of problems faced by developed world are widely argued over. Think about the never ending arguments over fiscal deficit, stimulus and debt. People not comfortable with fiscal deficit turns out to be great advocator of Bailing out of private companies by public money.
This may be the right time to put an end to these discrepancies and makes ECONOMICS more SCIENCE.
For example when teaching Economics to an Intermediate student belongs to a country from Sub-Saharan Africa how can one explain what "ADVANCED ECONOMY WITH UNUSED PRODUCTIVE CAPITAL - FACING DEPRESSION" really means. Things they witness in their lifetime are perpetual poverty, hunger, malnourishment, death - "UNUSED PRODUCTIVE CAPITAL" is a concept from MARS to them and to the majority of the world.
But because of the development of the subject in developed western world it never really bother about the problems faced by majority of the world.
Even the existing explanations of problems faced by developed world are widely argued over. Think about the never ending arguments over fiscal deficit, stimulus and debt. People not comfortable with fiscal deficit turns out to be great advocator of Bailing out of private companies by public money.
This may be the right time to put an end to these discrepancies and makes ECONOMICS more SCIENCE.
That's a great point. Its' only recently that economics as a discipline has begun to find solutions and ideas for places like Africa.
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