Competition is Pivotal to the Sustenance of Free Markets

Competition is Pivotal to the Sustenance of Free Markets

Posted by: on Apr 18, 2013 | No Comments

It is a fact that the biggest and the most successful business organizations in the world today are the ones that face the most competition in their respective industries domestically. Another well established fact is that nations and states that practice economies that come closest to being ‘Perfect Competitions’ have, not just the most satisfied and prosperous consumers,

A Review of Mancur Olson’s Power and Prosperity

A Review of Mancur Olson’s Power and Prosperity

Posted by: on Nov 30, 2012 | No Comments

Renowned social scientist and economist Mancur Olson is best known for his treatise called The Logic of Collective Action. But, it is another work of his that also deserves attention. In Power and Prosperity, Olson deals with the oft repeated question – why does an economic divide persist between countries?

How the Concept of Laissez Faire has Evolved

Posted by: on Nov 27, 2012 | One Comment

Laissez Faire is a term that finds its etymological roots in the French language, in which it means ‘allowed to do’. Also referred to as ‘let it be’ economics, Laissez Faire refers to a sect of political thought that does not favor political interference in private sector free markets. It was claimed to have first been first coined by Marquis D’Argenson, who was to later become Louis XV’s foreign minister during the Austrian War, in his work titled Memoires, published in 1736.

Various political groups throughout American history have made it their clarion call, right from Thomas Jefferson to recent political leaders such as Ron Paul.

Laissez-Faire Leadership: An Oxymoron?

Posted by: on Oct 29, 2012 | One Comment

Also known as delegative leadership, laissez-faire leadership is a ‘hands off’ form of leadership, in which the leader believes in freedom of choice for his team. The leader provides minimal direction to the team and delegates most responsibilities to

Equal Income Distribution – Characteristic of Free Economies?

Posted by: on Jul 13, 2012 | No Comments

The wealthiest countries are those that have free economies. There is a popular belief that the more capitalist economies in Europe, North America and even Asia (like Japan) have greater financial inequalities. But the true picture reflects a different scenario altogether. Such countries are better off than the socialist economies when it comes to distribution of wealth.

Free the People, Control the Government: A Lesson from Hong Kong

Posted by: on Jun 29, 2012 | No Comments

It is often believed that countries that are small are easy to govern. It is also believed that high population impedes economic development. There is one nation that shattered these popular beliefs… Hong Kong!

Democracy after Capitalism or Capitalism after Democracy?

Posted by: on Apr 4, 2012 | One Comment

Democracy after Capitalism or Capitalism after Democracy? Does the order really matter? This is a question I have always wondered about. Democracy and capitalism have always been thought in the same light. Irrespective of the order, the very coexistence

Will a Laissez-Faire System Boost Economic Growth?

Posted by: on Feb 23, 2012 | 2 Comments

Which kind of economy would you vote for – a laissez-faire market or a planned economy? My vote is for free markets.

Was Laissez Faire Responsible for the Economic Crisis?

Posted by: on Feb 22, 2012 | 3 Comments

It is not from the benevolence of the butcher, the brewer or the baker, that we expect our dinner, but from their regard to their own self interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our

3 Most Common Myths About Capitalism

Posted by: on Feb 20, 2012 | One Comment

If we take a look at the economic history worldwide, private businesses have been instrumental in improving the standard of living. Business houses have created job opportunities, invented products, made profits, helped impoverished people and