Emerging markets are transactional areas where consumers and producers are not able to productively interact due to a lack of intermediaries. This ‘lack of intermediaries’ constitutes an institutional void which, simply put, is a missing part of an economy that would allow market transactions to become more efficient if it existed. For example, India has an institutional void in the form of unaffordable health care for the poor (more on this later). Devi Shetty, an Indian philanthropist, entrepreneur and cardiac surgeon, decided to fill this void by starting a chain of hospitals called ‘Narayana Health‘ which provide state of the art care to anyone who enters its doors, and all at an unbelievably low cost. This is done by exploiting the idea behind economies of scale which is made possible as the population density in India is extremely high.
‘Body love’ is a phrase which echoes throughout social media and is endorsed by most public figures who believe that everyone should be proud of their body, no matter what it looks like. I, too, found myself to be an avid supporter of this movement – I mean, doesn’t it seem logical to believe that you should be comfortable in your own skin? Your shape, size and weight shouldn’t determine your mental state, right? When I started thinking about these questions more deeply, I came across ideas which lead me to think that perhaps ‘body love’ isn’t as beneficial and favourable as it seems at first glance. So, if you know anything about ‘body love’ and what it stands for, maybe you can straighten out my concerns.
About 40% of the items sold in American and British supermarkets would not really be classified as food. Food is any nutritious substance that humans need in order to maintain life and growth, and nutritious means that it enables a good standard of living to be achieved. Using this terminology to describe a lot of the food we eat today would be far from telling the truth.