From Local to Global - the boundaries today cease to exist. It’s no more 'Global' that’s talk of the town, the new success mantra for the corporate world is being “Glocal”, Global with a local flavor. “Gloconomics” is a platform to discuss the macro economic issues that have cropped up or are emerging in this newly glocalised era but are yet unsaid or hidden.
What is being Rational? If we put it in ‘MBA’ words, any action that is in best interests of the stakeholder in given circumstances is a rational action. But this term ‘best interest’ sometimes confuses me to the complexities of its simplicity. How do I decide whether this is in my best interest or not? Probably I am not the only one facing this dilemma, the whole world or rather the global economic model is the victim of this rational decision-ing. Recently it was in news that some Malaysian Bank has started accumulating Renminbi (Chinese currency) in its reserves. In the other part of the world, countries are still hesitant of trading in Renminbi. I doubt, who is rational. Is it just about being irrational while making a rational decision? And even if I am irrational, tomorrow if everyone is irrational like me, wouldn’t I be called rational again. Frankenstein isn’t it!! It is really hard to bring objectivity to this process of rationality. I believe it is not about the ‘best interest’ but the ‘indifferent interest’ one should possess to be the best. The time, place and circumstances are rather the weakening factors that would force you to be a typically rational. Had the world been rational, we wouldn’t have seen the invention of internet or may be in future teleportation.
It’s simply a complex world and irrationality is the only way to rationality.