That’s it, I did it and I want to tell the world about it. It’s been a long but entertaining journey of a bit more than 100 pages, and I finally went through. Deep down in the dark water of privatization but notwithstanding appealing intellectual ideas. So, if I could do it, so can you! [...]
Some of the most important questions that economic scientists should answer are the questions starting with “What If”. Should we be content with the GDP growth rate (keeping the questionable effectiveness of GDP growth rate as a measure of economic growth and rising standard of living aside) of 8%-9%, especially when most of the world [...]
I am not suggesting here that India will soon be in a situation where Greece is today. However, events in the recent past are not very inspiring for the long run sustainable economic growth. The question to be answered by economists is whether the expenditure on the Commonwealth Games is the best alternative use of [...]
Tags: Athens Olympics, Commonwealth Games, Economics, Greece Financial Crisis
If I say, China is not the freest country on earth, you wouldn’t be flabbergasted. If I say, China infringes human rights on a daily basis, you wouldn’t be either. However, I’m always appalled by the schizophrenic Chinese government behavior in terms of Internet freedom. On the one hand, you have at your disposal a [...]
According to a 1990 paper by Murray N. Rothbard, published in the Journal of Libertarian Studies, the great Taoist Chuang Tzu (369 B.C- 286 B.C) was the first person to work out the idea of ‘Spontaneous Order’. Chuang Tzu said, “Good order results spontaneously when things are let alone.” The term was later used and [...]
The infant industry argument is often used to portray a seeming market failure. Since Colbert in France and later in England with Hamilton in the 1780-90’s, taxpayers have been taught that, in the interest of the whole country, the government should protect its nascent industry for the sake of nationwide employment and international fair competition. [...]
Frederic Bastiat in his influential article “What is seen and what is not seen” describes how often we tend to assume that one action in a social system has a one given, apparent consequence, where it might really have many; all antithetical to each other. In fact we might think of the idea of “Looking [...]
The science of weather forecasting is very complex and any prediction of the weather can only be made with a certain probability. The sheer number of ever-changing variables is cause enough to reduce the field to an inexact science. This science on the global warming has been considered to be settled by the mainstream until [...]
When an entrepreneur invests his savings or borrowings in a business venture, he is primarily motivated by the profit incentive. Same is true for his making investments in the field of research and development, where he is trying to outsmart his competitor and thus earn the loyalty of even larger number of customers by providing [...]
Both China and India have grown rapidly in the last decade. However, India seems to perform less well in terms of economic growth and poverty alleviation compared to China. China’s results are striking: 9% annual growth on average and 300 million people lifted out of poverty over the last two decades. Whereas in India, despite [...]
