top of page

By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk.  So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

When Science Becomes a Predictable Game

As academic incentives harden into predictable pathways, science risks trading curiosity for predictable outcomes.

A recent article in Nature magazine describes an unusual online game from China in which players step into the life of a young faculty member. They must publish papers, secure research grants, manage teaching, and navigate institutional pressures. What is striking is not the game's premise but how real it feels to those who play it.


This reaction is worth pausing to consider. It suggests that scientific careers have become structured enough to be reproduced in a game. Science has always been about discovery. Today, in many contexts, it is beginning to resemble a system of production, in which results are expected, paths are fixed, and success follows a pattern. This shift is gradual and often invisible, which is why it is rarely questioned.

 

The most important point is not that academic life is stressful. Everyone already knows that. The real issue is that it has become predictable enough to be reduced to a game. A profession once known for curiosity, uncertainty, and free thinking now seems structured enough to be reduced to steps and outcomes. This change affects not only careers but also how new ideas emerge. When pathways are defined too early, imagination begins to operate within boundaries rather than beyond them.


Science was not always like this. It has often advanced through uncertainty, not only in its outcomes but also in its direction. Many discoveries came from accidents, failed experiments, or questions that did not fit accepted ideas. Researchers often followed their curiosity without knowing where it would lead. There was room for wandering, thinking, and even getting lost. There was also patience for ideas to mature slowly, without the constant need to produce visible results.


The simulation makes it clear that this is changing. When a scientific career is broken into steps with expected outcomes, the system becomes more rigid. The range of acceptable choices narrows, and so does the range of thinking. Young scientists internalize this logic. The question gradually shifts from what is worth exploring to what is likely to work. Over time, this way of thinking can become second nature. It does not feel imposed; it feels practical and even necessary.


Predictable Thinking

This also changes how decisions are made. Researchers begin to repeat what has worked before, with minor tweaks. Trying something very different feels risky. As a result, bold thinking becomes less common, even though it remains essential to meaningful discovery. A system that rewards predictability can gradually make thinking more predictable. Over time, even the definition of a ‘good idea’ begins to shift.


The meaning of failure also changes. Earlier, failure was part of the learning process. Many important ideas came from results that did not go as expected. Today, in many settings, failure is increasingly seen as a waste of time. If a result does not fit a clear story or a quick publication, it may be ignored. The system does not directly stop exploration, but it can make it difficult. This can slowly reduce the willingness to ask difficult or unconventional questions.


It is useful to imagine how some of the greatest scientists would have worked in such a system. What if Isaac Newton had been asked to publish regularly while thinking through ideas that led to Philosophiæ Naturalis Principia Mathematica? What if Charles Darwin had been judged every year on output while developing the theory behind On the Origin of Species? What if Albert Einstein had followed popular trends instead of questioning basic ideas of physics? And what if Richard Feynman had been forced to follow strict rules instead of thinking freely?

 

It is difficult to imagine their most important work emerging in the same way. Their ideas needed time, freedom, room for deviation, and tolerance for uncertainty that does not fit easily into structured systems. They also benefited from intellectual environments where curiosity was not constantly measured against short-term outputs.

 

The simulation described in Nature illustrates how today’s system works. Players must manage time, effort, and risk. They learn to choose actions that yield reliable results. In doing so, they learn how the system rewards certain behaviour.

 

This has a greater impact. Science has often been an open-ended search for answers. Now it increasingly looks like a planned activity with clear inputs and expected outputs. Creativity remains, but it operates within limits. The danger is not the presence of structure, but the narrowing of intellectual freedom within that structure.


Striking a Balance

Predictability gives a sense of control. It makes success seem like something that can be planned step by step. But science does not grow only through planning. It grows through uncertainty, where new and unexpected ideas emerge. Many important breakthroughs have come from directions no one could have predicted in advance.


The real challenge is to maintain balance. Science needs structure, especially for large projects and public funding. At the same time, it must protect freedom of thought and curiosity.


If young scientists are trained primarily to follow established paths, their ability to step outside them may diminish over time. This has implications not only for individual careers but also for the future of science. Many major discoveries came from ideas that did not follow a clear path.


The simulation described in Nature is therefore important. It shows how scientists experience their work today and how structured and predictable the system has become. The danger is not that science looks like a game. The danger is that it may slowly begin to behave like one.

 

This leads to a simple but important question. Do we want science to become something that can be played efficiently, or something that continues to surprise us?

 

(The writer is an ANRF Prime Minister Professor at COEP Technological University, Pune, and former Director of the Agharkar Research Institute, Pune. Views personal.)


Comments


bottom of page