On Joseph Schumpeter’s Idea of Creative Destruction

On Joseph Schumpeter’s Idea of Creative Destruction

Posted by: on Apr 29, 2015 | No Comments

Creative destruction refers to the continuous product and process innovation mechanism by which new units of production replace outdated ones.

What Power does the Free Market Hold?

What Power does the Free Market Hold?

Posted by: on Mar 16, 2015 | No Comments

“Our society is what we make it. We can shape our institutions,” says Milton Freidman in his book, Free to Choose.

Sheldon Richman: His Beliefs and Contributions

Sheldon Richman: His Beliefs and Contributions

Posted by: on Nov 19, 2014 | No Comments

An American writer, Sheldon Richman, is the vice president of The Future of Freedom Foundation (FFF) as well as the editor of the monthly journal of the FFF,

Ever Hear of a Racino?

Ever Hear of a Racino?

Posted by: on Nov 14, 2014 | No Comments

Horseracing and casino gambling are related activities that often appeal to a similar strata of society. This has gone on to build a bridge between casinos and racing,

How Far is India from a Free Market?

How Far is India from a Free Market?

Posted by: on Oct 3, 2014 | No Comments

The year 1947 saw India in new light, and a free India was born. But this new India faced a serious challenge of stabilising its economy. The nation had just taken a beating from the Second World War

What does the Narendra Modi Government mean for the Indian Economy?

What does the Narendra Modi Government mean for the Indian Economy?

Posted by: on Jul 23, 2014 | No Comments

“India has won. Good times ahead.”

This is what Narendra Modi tweeted when his party achieved an irrefutable lead in the elections earlier this year. Now that Modi has formed his government at the centre, what does the new government have in store for the third largest economy in Asia?

Factors Influencing Market Trends

Factors Influencing Market Trends

Posted by: on Oct 28, 2013 | No Comments

Economic indicators tell us about the state of a market in the form of statistics. Analyzing economic indicators can help us predict future performance. Some common economic indicators include indices such as GDP, unemployment rate, industrial production, stock market and money supply. When a market follows a trend, this is most likely shown by certain associated economic indicators that shape the market.

No Casino is an Economic Island

No Casino is an Economic Island

Posted by: on Aug 19, 2013 | No Comments

In 2007, Macau overtook Las Vegas in revenues. More than 50% of Macau’s economy is based on gambling. The island boasts of 33 casinos that operate under a government franchise. Attention to this little hub of economic prosperity has undoubtedly led to the Chinese cabinet passing the Offshore Islands Development Act,

Foreign Direct Investments in the Indian Economy

Posted by: on Feb 20, 2013 | One Comment

In the pre-liberalization era, Foreign Direct Investments (FDIs) into India were plagued by several restrictions. This included ceilings on foreign equity, restrictions on the use of brand names, restrictions on the expansion of investments into consumer goods and several others. To add to the miseries was the Industrial Licensing System. In 1991, many of these impositions were either abandoned or significantly eased, paving the way for FDIs to boost India’s economic growth.

Why India and Nepal Rank Low in Economic Freedom Index

Why India and Nepal Rank Low in Economic Freedom Index

Posted by: on Dec 10, 2012 | 6 Comments

On the face of it, economic freedom is a simple concept. However, it encompasses every aspect of an individual’s life. Economic freedom defines the standard of living and has a significant influence on the quality of life.