An open letter to Economists

Dear fellow Economists,

Till now you guys have been awesome. Macroeconomics, Microeconomics wait, your theories on rational expectation, just blows my mind. Now with these tools, I can manage my pocket money even better than I was doing as a child. Also, your theories of intertemporal choice, when coupled with the theory of permanent income hypothesis was a giant nail in the coffin of everyday spending. But, when I come to market failure I am startled. In externalities, you guys used Cow for “Tragedy of Commons”.

Seriously Cow, I mean have you guys lost your mind. I ask why? why? why? you could have taken goats, sheeps. But wait some of the vegetarians mustn't have liked it. Else you could have taken  Koala, they seem cute and cuddly or penguins, those happy little creatures eating fishes in the frozen land of Antarctica.

You guys could have taken Dolphins or sharks or whales or even some Desi variant of some fishes. (I bet only some of would have objected it then). In India, cows are given a Holy place. So most of the time instead of saying Holy Shit we call for Holy Cow. Cows are an important part of our culture, tradition and life. For these traits only we confer and bestow them with the title of “mother”.  No child wants to hear ill of his mother.

On the economic front, the land in here is a property of the state, not a single person. Also, we still can't determine the state when we will call a field overgrazed. Have you thought

 What would our model turn out if we included a tiger(which we have plenty) in our analysis? Hmmm! do you have an answer for it? I bet not.

So next time you bring some Holy creature and label them as the cause for “tragedy of common”. You better watch it. These can't speak but surely we can! After reading this, you might ponder over it.

With best wishes,

Upmanyu