An emotional recession ; In times of panic, rationality goes out of the window. Reading the papers, one can be forgiven for thinking that India is in the midst of a full-blown recession.

In times of panic, rationality goes out of the window. Readingthe papers, one can be forgiven for thinking that India is in themidst of a full-blown recession. Screaming headlines announce jobcuts at various companies, projects being shelved, earningsguidances being revised downwards and everyone from the PrimeMinister downwards warning of tough times ahead.

All these news items are obviously true. Now consider the otherside of the coin. Do you know anyone who has lost a job? Chances arethat you don't simply because not many jobs have been lost in India.But the images of many of the 1,900 sacked Jet Airways cabin crewprotesting on the streets in their distinctive yellow …