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Threshold Price Paradox: Production requires time which is limited. People are willing to supply at a threshold price or above, but people are unable to demand at that price due to the lack of money. If the price is at the threshold, supply will go on increasing. For example, in case of teacher, if their salary is 20,000 most are likely to hold a job, but below the threshold say 10,000 most are unlikely to join as teacher.  How will the perfect competition solve it? Because in this condition, competition will never push the prices down below the threshold, or if employees agree with little (at below threshold price)  due to unemployment but it makes them unproductive in work as well as life.  In this condition most of the people demand are never met.  In case of teacher, no competition will decrease the price, because taking a class requires about 6 hours of preparation daily. If teachers agree with salary less than 20,000, then they will compromise their time in preparation, or health

Why people dislike Ignou? Here are the reasons for it. The market of lemons or Information asymmetry https://en.wikipedia.org/wiki/The_Market_for_Lemons 1) People fall into the fallacy trap that more money equals to more value. But with information asymmetry, more money does not necessarily provide more value. 2) People tend to think that qualifying super hard entrances and then getting admitted to college means you will get the best education.  But in reality, these entrances are mainly pointless and you gain no knowledge about your subject of specialization. For example, why study so much of  inorganic chemistry when you need to spend time on algorithms if you will do a degree in computer science.  3) People tend to believe that the correspondence course is less valuable than regular courses. But in reality, ignou courses are not fully correspondence. You would have to attend classes two days a week. That's the right balance of studying at home and getting mentorship weekly.  Yes

  Perfect price discovery is a major challenge in economics. The Internet is skewed up. The advertisement business model has become a terrible incentive model for generating revenue for content.  The advertisement industry relies on views of the website.  Clickbait content whether it is a vulgar joke or rumours or attention-seeking fake news gets more revenue than quality ones.  Imagine how much Einstein's paper would get revenue if the business model was through advertisements. Only a few people would have read and could understand it, so Einstein would have not earned more than a few dollars.  There are alternative models like blockchain where a developer can decide what they want to incentivize. (e.g. Quality content or echo chambers that reinforce their existing views due to confirmation biases) One night after thinking till 1 am, I got a simple equation. Take for example you want to incentivize a quality essay.  Bounty for writing an essay is 1 token: Price now for 1 token is

Coronavirus has created a major challenge in our education system. Schools are closed for many months, and teachers are finding ways to teach students remotely. But many are hopelessly failing at it, some think that it doesn’t work as there is limited evidence in support of remote learning in case of kids while others are trying to make it work.  Remote learning requires a different set of tools and different ways of handling students, but the first principles of pedagogy remains the same.  Old habits die hard. Many teachers started blackboard teaching through lecturing remotely through the zoom app or other apps like skype.  What is blackboard teaching? Blackboard teaching is when communication is one-sided with little student engagement. The teacher lectures the content and students listen. But there are serious problems with it.  Here are some of the compilation about patterns of bad teaching: Patterns for bad practices of teaching Remember, a well-designed video is many times super

Shivarthians can implement Universal Basic Income (UBI) This is how UBI can work: 1) You need to deposit the collected tax to the blockchain. 2) KYC is required for the citizens 3) Community validation of productive work done by citizen use Shelling Game https://ipfs.kleros.io/ipfs/QmZeV32S2VoyUnqJsRRCh75F1fP2AeomVq2Ury2fTt9V4z/Dispute-Resolution-Kleros.pdf Work can include gardening (growing flowers, fruits, or vegetables), learning, writing, anything that's value to society and oneself. Comprehensive guidelines and type of work for which citizens will have access to ubi can be designed by shivarthian ( https://shivarthu.reaudito.com/ ) using evidence and research data.  No unemployment problem, no bullshit jobs. What Is a Bullshit Job? Here’s Graeber’s definition, which he constructs carefully over many pages: “ a bullshit job is a form of paid employment that is so completely pointless, unnecessary, or pernicious that even the employee canno

The energy of the world is constant. The entropy of the world tends toward a maximum. --- Rudolf Clausious This is how heat tax works: Nivaldo J Tro But what if the heat tax produced is used for some other conversions: Regarding spontaneity: Spontaneity is defined as a process that occurs without ongoing outside intervention (such as the performance of work by some external force) https://courses.lumenlearning.com/introchem/chapter/spontaneous-and-nonspontaneous-processes/ Take for example photosynthesis, it does require energy for the process but doesn't it proceed when left to themselves. Regarding heat: What is heat actually? The definition of heat and temperature are circular.  What is heat at quantum level? A photon? If so what type of photon, infrared, or radio waves? Heat: 1) The sensation or perception of such energy as warmth or hotness Argumentation: It defines as sensation, so it's about brain signaling if the brain or nervou

Nobel prize winner George Akerlof described how the quality of goods is degraded due to information asymmetry between buyers and sellers, leaving only “lemons” behind. Lemon is a vehicle with several manufacturing defects that buyers don’t know while buying. The mechanism: Suppose buyers can’t distinguish between a “peach” (high-quality car) and a “lemon”. A dishonest seller can sell the “lemon” saying it as “peach” at a price that is the average value of lemon and peach. So, in the market of lemon and peach, selling lemon will continue and sellers holding peaches will start leaving the market (as buyers can’t distinguish between lemon and peach, and lemon will have a lower price than that of peach). It produces a positive feedback loop because, when enough sellers of peaches leave the market, willingness to pay for buyers will decrease (as the average quality of cars on market decreased) leading to even more sellers of peach to leave the market. Due to lemons, or predatory journals, n

Coronavirus and social distancing can prepare us for a healthy economic model that can work for any period of time.  Pollution rates are going down, lakes are becoming clean, deers are coming to the roads. In other words, nature is taking over the world.  People are working from home and are getting more family time. All these are transcendent for human beings, which needs to be celebrated.   But many politicians are concerned that it will have a serious negative impact on the economy? But is it so? Or it's because of the present economy itself is in bad design. Social distancing promotes remote working: Here is why remote working is the best way of working. https://iambrainstorming.wordpress.com/2020/02/16/how-to-beat-the-worst-job-culture-of-india/ More autonomy, more productivity, more happiness as you are no more under the robotic control and surveillance of a boss to micromanage all your tasks. Take for example  https://gitcoin.co/  for remote working.

India is bringing the population control bill, but its no way going to save us from the apocalypse. To understand the intensity of danger, let us understand the population growth curves. Changes in Population Size: A population will increase in size with every birth and it will decrease in size with every death. Change in population Size = Births (B) - Deaths(D) Mathematical notation: Where N represents the population size, t represents time and ΔN is the change in population size and Δt is the time interval. r Δt is per capita change in population size If, for example, a population of 1,000 individuals increases by 15 individuals per year, then per capita change in population size is 15/1000 or 0.015. If we make the change at each instant in time, the formula changes to: r represents the per capita change in population size that occurs at each instant in time. Exponential Growth: When the population has abundant food and resources and