Prof. Andrew Prttit Morriss, the tall, white, fat guy who was really interesting in his sessions. Today, he was dealing with the argument “Externalities, Coase and the Problem of Social Cost”. Here he deled with the scenario of Free Market. at the mean time, he referred the webpage www.perc.org for some more information related the free trade stuffs & more.
"tragedy of Commons" was the new tern he gave us. "which belongs to everybody that belongs to no body"; is the exact term it defines. example: the public road or highway is the property of all but when its about maintaining it, everyone starts passing the ball to the next person's hand.
at the mean time for its practical knowledge, he made us play the game such that considering a big paper as the Ocean, where there are lots of Fish (there few crakers were used) & we got to fish them. at the first 30s, the fish we fished are marked as 1 point & in the second 30s will carry 3points per fish. few team fished the fish in the first fishing period & few waited for the next fishing circle. the winning theme made people to just collect as much as crackers but they forgot the ocean & destroyed. that simply proves the "tragedy of commons"
the deputy director of FNCCI, Ratish Basnyat arrived with lots of real scenario in Nepali market regarding industries, competition, and lots more. the interaction with him made me clear about the history of the nepali scene & indeed knew that the turnover need to be 10,000,000 of the company in 1 year, to be the member of FNCCI Nepal.
beside it, he differentiated the FNCCI of Nepal & other countries Chamber of Commerce & Industries.
this was a trouble day coz 3 assignments were assigned, 1 of public policy of nepal; 2nd was of debate & 3rd was article analysis.
but the day ended with 2 victory between us in 2 activities done.
Contd.... for tomorrow
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