»The Daily Reckoning by Bill Borner

The Power of Optimism
10 AUGUST 2013

- By Asad Dossani, Author, The Lucrative Derivative Report

Asad Dossani
The common example used to define optimism is a glass that has 50% of its contents filled. The optimist views the glass as half full, the while the pessimist views it as half empty. This definition is problematic because it implies that there is no difference in the actual outcome of the glass, just in the way we perceive it.

The truth is that optimism has real effects. Numerous studies have shown that optimistic individuals enjoy better health, have better relationships, have higher incomes, and generally better life outcomes. When an optimist faces a problem, they look for the best solution. When a pessimist faces a problem, they simply accept it as the way things are. This is the real power of optimism.Why is this important? Right now, the Indian economy is suffering. Our growth rates are falling, the rupee is tumbling, and corruption continues to get worse. Foreign investors are pulling out of the country because they don't see a bright future for India. In summary, things are not looking good right now.

There is no doubt that our economy needs fixing, and it will not be easy. But where we really need to make a change is in the way we deal with this problem. Too many of us are overly pessimistic about the future. We complain about all the problems that we face, but do not offer much in terms of solutions.For example, if you read articles about corruption in India, you will mostly find out how corrupt our politicians and businessmen are, and what scandal is coming up next. What you won't find is practical solutions to the problem of corruption. There is no optimism and no belief that we can ever reduce the problem of corruption.

We must change our mindset. When we see a problem, we must look for a solution rather than just complain about it. Granted, the average individual does not have the ability to change the system as a whole. But if each of us makes a small positive contribution, we will end up with a much better outcome overall. What the Indian economy needs now is a healthy dose of optimism.

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