The economics of bouncing back

I had earlier written about how the immediate bouncing back of Mumbai from the serial blasts that rocked it looked more like amnesia of a city than a spirit to bounce back. Last Friday, Hyderabad rocked under the blast in the Mecca Masjid on Jumme-ke-din; 12 people killed. Small riots broke out, but came under control within a few hours.

Had that happened a mere five years ago, such peace would have been unthinkable. Curfew was imminent and the loss of lives would have been much worse. But this, this bouncing back to life? Amazing.

A city choosing to move on because the day to day economics wont work - we saw that happen in Mumbai and then in Hyderabad. Is economics to blame for people for forget about riots and get back to life as soon as possible, because their livelihood depends on them doing the work? A few years ago, the same youth might have been unemployed, angst ridden and ready to cause mass-scale destruction just on the call of a selfish politician who would pay them a 100 bucks, a packed of biryani and desi daru for the rioting?

Guess if thats the way economics can make people saner, then hail the free markets. The Hindu quotes this as change in the social matrix, I would say the truth, its because of the change in the economic matrix in the city. People are ready to work hard, because the returns are guaranteed; more work, more pay. It cannot get simpler than this.

About this entry

You’re currently reading “The economics of bouncing back,” an entry on T3,The Think Tank Chronicles.

Published:
5.23.07 / 4am
Category:
Freakonomics, India, bouncing back, hyderabad
Tags: