Saturday, April 19, 2014
Myth: Economics is a dull subject.
Reality: Economics is as spicy and hot as sex is.
Most people in general don’t take any interest in economics because the subject is presented with a lot of boring theories and equations – often incomprehensible and more than enough to drive even the mad out of asylums.
However the problem is, without understanding economics, precisely the macro economics, it’s impossible to understand the micro economics, on which, one’s individual growth depends. That, in the process, ensures collective growth for an overall socio-economic development to make society, a nation and the world a better place to live in.
But text book economics, as I said already, won’t and can’t really make anyone excited to take any interest whatsoever in this fabulous subject.
So, what to do?
The solution is pretty simple but very tough to execute – shedding off the straight-collared dogma and puritan principles in order to make things as titillating as possible.
And for that, business publications and channels have to adapt to and adopt a different approach altogether – to redefine their marketing communications and content.
The first challenge is to hold people’s attention to unfathomable economic terms as a matter of fact, but uncanny, way, so they become keen to know and thereby understand things rather voluntarily.
Say for instance, every political party talks about ‘Inclusive Growth’ in almost every polity and economy. But what that means exactly, well, none bothers to explain, lucidly.
Therefore, the Inclusive Growth is inclusive of what remains as elusive as ever.
But, if some excitement – even if bizarre and weird, but unavoidable – is tried out in marketing communications, it might so happen people rather willingly try to dig deeper.
Frankly, Inclusive Growth is not possible unless people are included in the process from the word go.
How to do that, here’s an indication through a piece of marketing communications, which a publication like 'The Economist' might risk... to think and do beyond the obvious... so as to attract people towards the otherwise bland – but very useful – business and economic content to help them know how an economy works and how they can contribute to it to benefit from the same.
After all, “it’s economy, stupid” won’t do anymore. Because, for a sustainable economy, worldwide, the stupidity of everyone – irrespective of class, gender, age, etc. – got to be replaced with intelligence for sure.