CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

As democratic nation states reorient themselves to being accountable to global financial markets, non-democratic bodies such as the World Trade Organization, and trade agreements such as General Agreement on Tariffs and Trade and Trade in Services Agreement, they will necessarily become less responsive to the aspirations of their own citizens. With overt repression not always the most felicitous or cost-effective policy option, it has become imperative to find ways and means to ideologically tame the economically excluded. This is critical because growing discontent could lead to political instability.

A
This is where behavioral economics in monitoring and ‘nudging’ the behavior of the financial elite comes in.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Hence the new focus on the minds and behavior of the poor.
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Ergo the drive to find market-led solutions to socio-economic problems.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Development is about freeing prices and making markets more efficient.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B Hence the new focus on the minds and behavior of the poor.
This paragraph starts on the premise that democratic nations holding themselves accountable to non-democratic bodies will necessarily become more indifferent to their own citizens. And because undisguised force or clampdown is not appropriate or cost-effective, they look for ways to “ideologically tame” the “economically excluded”, i.e., the unemployed and the poor. It becomes clear here that though the writer says “citizens” in general in the first line of the paragraph, he is specifically referring to the economically excluded as bearing the brunt of efforts to be tamed ideologically. The penultimate line states that “this” (ideological taming) is necessary because growing discontent can lead to political instability.
Let us now look at options to complete the paragraph.
Option A states that this is where behavioral economics in monitoring and ‘nudging’ the behavior of the financial elite comes in. We can rule out this option, as the paragraph is about measures sought to repress the economically excluded. The financial elite, or the wealthy, are not discussed here.
Option B talks of the “new focus” on the “minds and behavior” of the poor. This makes a fitting concluding sentence to the paragraph. Democratic nations holding themselves accountable to non-democratic bodies become less responsive to their own citizens and seek ways and means of ideologically taming the economically excluded, because growing discontent amongst this group can lead to political instability. Hence the focus on the minds and behavior of the poor.
Option C talks of the drive to find market led solutions to socio-economic problems. It is tempting to think of this as a possible conclusion for the paragraph. This is because the paragraph has discussed “market-led” democratic nations and their need to address their socio-economic problems differently. However, an important idea in the paragraph is that overt repression of the economically excluded is neither felicitous nor cost-effective, and so ideological solutions to “taming” them are being sought. Ideology refers to the thinking or beliefs of a group. The solutions looked for are ones that are based in ideology and can bridle the thinking of the economically excluded. Option C, which talks of market led solutions to socio-economic problems, is hence not correct.
Option D tells us that development is about freeing prices and making markets efficient. This is an unrelated idea, and does not add to the given paragraph.
Hence the correct choice to complete the paragraph is option B.

Correct Answer: Choice (b)

flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
Q. As the economic role of multinational, global corporations expands, the international economic environment will be shaped increasingly not by governments or international institutions, but by the interaction between governments and global corporations, especially in the United States, Europe, and Japan. A significant factor in this shifting world economy is the trend toward regional trading blocs of nations, which has a potentially large effect on the evolution of the world trading system. Two examples of this trend are the United States-Canada Free Trade Agreement (FTA) and Europe 1992, the move by the European Community (EC) to dismantle impediments to the free flow of goods, services, capital, and labor among member states by the end of 1992. However, although numerous political and economic factors were operative in launching the move to integrate the EC’s markets, concern about protectionism within the EC does not appear to have been a major consideration. This is in sharp contrast to the FTA; the overwhelming reason for that bilateral initiative was fear of increasing United States protectionism. Nonetheless, although markedly different in origin and nature, both regional developments are highly significant in that they will foster integration in the two largest and richest markets of the world, as well as provoke questions about the future direction of the world trading system.
Q. According to the passage, one similarity between the FTA and Europe 1992 is that they both
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Political Challenges to Democracy
CIVICS
Watch in App
Join BYJU'S Learning Program
CrossIcon