'Ceteris Paribus'- this phrase finds its significance in the classical school of thought of economics and the use of this phrase paved the way for the formulation of important theories on society which still hold true today. The first time I came across this term and its underlying meaning, it seemed very surreal and it still does today!
The laws governing economic behavior of and individual and the society as a whole; all base their foundations on the Ceteris Paribus assumption i.e. "every other thing being equal". When an economic unit is put under the microscope, influences from the surroundings are kept constant (or assumed to be so) to draw inferences on its functioning and can there be any standard law that will define its actions. As your specimen under the lens keeps getting larger, the outside disturbances can no longer be ignored at will.
But why do we talk of this very trivial trivia?
in the wake of the rising revolts in parts of the Arab world, this phrase is resonated. Societies need to be governed; be it any form of governance. And every governing form specifies certain conditions. Now, as individuals change, their aggregated summation will also change. Tunisia, Egypt, Jordan, Libya and other countries in the waiting have one common factor of unrest: worsening economic conditions. All can thank their rulers for the apathy of their masses but the fault, when shown under lens, lies with the underlying conditions which were assumed would be constant and thus Ceteris Paribus. It sounds good in theory but fails in practice to assume that external factors will remain unchanged. As turmoil steps into the situation and revolts become the order of the day (as of now atleast) another "trivial" fact is brought out- nothing remains the same.
It's in your drunk walk, it's in your boozed breath, it's in your blurred vision and it stays within you. It's your weird-ass craziness.
Tuesday, March 8, 2011
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