The Need to Find a Reason
As the election results started rolling in on Friday, it was amusing to see the news channels provide “reasons” for the wins and losses, close margins and landslides. Why did Jayalalithaa win? 2G scam and corruption. Really? Since when did Jayalalithaa become the poster girl for the opposite of corruption? Or why did Mamata win? General misrule by the Left. Really? It took 20 years and multiple elections after liberalization to figure out that the Leftist approach was taking Bengal nowhere? Of course, this kind of insane reason providing doesn’t stop at the elections. We hear similar rubbish about why the Sensex fell or rose (the Euro crisis; the signs of an American recovery; RBI’s interest rate hikes). Isn’t it more likely that the market fluctuates because investors aren’t rational? With rational investors, we’d never have stock market bubbles and crashes, would we? Even religions/philosophies insist on providing a reason: why do some people suffer? Why did so many die during the ts...