Sriram Karri | India’s women can offer lessons in smart economics

My grandmother taught me the first lessons of economics when I was hardly five years old, after I was foolhardy and rash with a grand sum of Rs. Most modern lessons on diversifying a portfolio would not surprise any Indian household whose economics are steered by steely women of convictions and home truths. Most of the world’s hyper-inflation began when central banks abandoned the gold standard as being unviable and no longer pragmatic for the future — and eager to adopt Keynesian economics — giving governments the reckless instrument of deficit financing and easy money to spur “growth”. On International Women’s Day, going beyond clichés, one must look around, go back in time and analyse to be truly humbled into realising at how much wiser, saner, smarter and productively higher in the ladder of economics the women around us are. Yes, we have transformed into a consumption-driven economy, and a more consumerist mindset society; we are increasingly measured by where we live, what we wear, or dive, and what we showcase, and to do it, are allowing a sea of debt to drown us; but whatever those wonderful women I recall running households would not approve of then, are not too healthy or good even today.