When we are at n-1...

"I became deeply attracted to theory of choice and economic growth, subjects that dealt with the core nature of rationals, decisions and ultimately all welfare systems; a life spent studying these topics would be a life devoted to the transcendental. Like many of my economics friends, I began to develop an almost religious passion for economic theory. But beneath my passion was
an even greater desire for fame and immortality. I dreamed of being another Keynes. I wanted to spend my life focusing on the discovery of truths that would live forever. Sometimes, I felt arrogantly superior to people who were headed for more mundane professions."


I know at least one of us could be authoring (this). Hassan. Bob. Moaiz. Bilal. Lala. Hadi. Shahbano. Mehr.
Only time will tell who gets to it first.

Is protest another form of insurance?

Days in Karachi have been a little cruel lately. Domestic protests have restricted urban life and protests on the internet are taking a toll on our cyber-selves. It makes me wonder, why would rational beings be forced to take decisions, which, at least in foreseeable future, and in all likelihood, are deemed to harm them? Why do people spend money and bear a cost by bycotting and banning stuff they previously liked? What really is the economics of protests?

One answer I got yet: protesting is like buying insurance. People protest against laws, actions, events and other people because they want to hedge their odds. For example, promulgation of a particular law will cause long term loss to a community, which subsequently protests against it by incurring short term cost, or in insurance jargon, paying premium. Protesting also entails the same costs - moral hazard and adverse selection.

If protesting is really like insurance, are we sitting on a huge business proposition? Could "protest firms" be the next big thing? Would one be able to buy a 'protest option/coverage' in exchange of a premium?