The economic wasteland?

I am less worried these days. The headlines are not screaming figures of pink slip issues in thousands. And, if the 'pink slip pandemonium' is not a front page story but is now occupying a 2x2 space somewhere inside, I am not complaining. For a person like me, who is working in a sector which is least likely to be affected by economic tsunamis, I can only imagine the plight of the employees who have been at the receiving end. I really do not understand the dynamics of 'systems & operations' & 'finance' of the corporate sector but I do wonder if sacking was/is the only solution.
My very very limited entrepreneurship sense says that a more moderate approach could have been adopted.Instead of laying off 2000 employees, perks of say 5000, employees could have been scrapped, threreby covering part of the loss & cost.One does wonder, if the employees who managed to save their necks , do not mind the extra work that has ended up on their laps.Even if they are complaining, they dare not be vocal about it.Maybe , there is a paragraph somewhere (in some page of a thick book on Corporate law& finance) about a lower scale being offered in exchange of retaining one's position in case of an economic crisis..I am just wondering.
With each one of us burdened with mortgages & instalments, I can only hope that our economic pundits come up, fast & quick, with some plans of economic salvation.
Who said life is difficult outside the Earth?!! It isn't easy here, either.

Games Indians Play-A Book review

Games Indians Play, by V. Raghunathan ,explores the Indian mentality of being privately smart & collectively foolish.The author, a faculty at one of the IIMs, uses behavioural economics & game theory to explain why we do what we do & how acting in the common interest of everyone will do good to us in the long run.

The author uses prisoners' dilemma to explain why we Indians act selfish & go for short term gains. The book doesnt tell us anything new that we already dont know but the mode of putting across his point with a dash of humor ,makes it a very good read. I have never touched Economics even with a barge pole but his lucid explanation, with a good sprinkling of examples ,made the aforementioned theories qute simple to understand. Do grab a copy!!