The entire problem comes down to their inability to understand that you cannot reduce the world economy to a single cause and effect.
The global economy is an extraordinarily complex system involving capital flows, confidence, politics, taxation, interest rates, war, technological change, and human behavior. These forces interact continuously. Nothing exists in isolation.
Yet academics and policymakers repeatedly search for a single explanation.
Raise interest rates and inflation must decline.
Impose sanctions and a government must surrender.
Increase taxes and revenue must rise.
heir models assume that human behavior will remain constant, regardless of how governments change the incentives.
That is simply not how the world functions.
Festive e-comm sales fall 10% YoY to Rs 30,000 crore in four days as pricier electronics drag demand
India's festive e-commerce sales have started on a weaker footing this year, with gross merchandise value (GMV) estimated to have fallen 7-10 percent year-on-year (YoY) in the first four days as higher smartphone and laptop prices weigh on big-ticket purchases.
Online festive sales stood at Rs 29,800-30,900 crore between October 7 and 10, against Rs 33,200 crore in the corresponding period last year, according to e-commerce consultancy Datum Intelligence. The slower opening comes as electronics face a price squeeze, while purchases across fashion, beauty and other categories are helping sustain order volumes.
By @AryamanGupta_
https://t.co/NdZD56xXAb