Visa Restrictions from China Sharply Hit Macau’s Growth

Visa Restrictions from China Sharply Hit Macau’s Growth

Posted by: on May 6, 2015 | No Comments

Macau’s growth has been sharply hit as anti-corruption regulations in China, along with a ban on smoking in the Macau casinos and visa restrictions for gambling in Macau

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,

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?

Reaganomics: The Life and Economics of Ronald Reagan

Reaganomics: The Life and Economics of Ronald Reagan

Posted by: on Jul 16, 2014 | No Comments

“The American dream is not that every man must be level with every other man. The American dream is that every man must be free to become whatever God intends he should become.”

~ Ronald Reagan

5 Myths About Free Trade

5 Myths About Free Trade

Posted by: on Dec 23, 2013 | No Comments

Free trade is when governments stop discriminating between exports and imports and allow manufacturers and service providers to buy and sell products and services in an environment free of subsidies and duties. While economists around the world have been favoring this concept and

Casino Industry Treated Differently from the Entertainment Industry

Casino Industry Treated Differently from the Entertainment Industry

Posted by: on Aug 25, 2013 | No Comments

Yes, we have all heard the old bugbear of how gambling is bad for society. However, gambling is nothing but a common noun belonging to a larger family of more respectable relatives like ‘games of chance’, ‘betting’, and ‘probability.’ Yet,

A Eulogy for the Greatest Champion of Free Markets in Modern Politics

A Eulogy for the Greatest Champion of Free Markets in Modern Politics

Posted by: on Apr 29, 2013 | No Comments

I say the greatest not because there weren’t others, but because there was or has been no other – till date, quite like her. Margaret Thatcher is the only woman statesperson who has been credited with an “ism” to her name. Her political and socio-economic ideology is today considered to be in a league with names as iconic as Marx, Gandhi, and Reagan.

Governments and Contradictory Objectives

Posted by: on Dec 24, 2012 | No Comments

My previous blog – Why Governments Fail – addressed some questions. Governments do not fail because of inept politicians or a dearth of the number of laws being passed.

There is talk of improving the public sector by removing political interference and granting autonomy i.e. run government companies as private companies. This is a contradiction. If the public sector is to function as the private sector and provide a return on investment, then why have it at all?

Why Governments Fail?

Posted by: on Dec 21, 2012 | One Comment

When one is in office one has no idea how damnable things can feel to the ordinary rank and profile of the public – Sir Winston Churchill

Government isn’t the solution; government is the problem – Old slogan of the Libertarian Party of the USA

Feeling good about the government is like looking on the bright side of any catastrophe. When you quit looking on the bright side, the catastrophe is still there – P.J. O’Rourke

Why do governments perform poorly? Why do government actions have consequences which are the opposite of the intended objectives? Why are government forays into business abysmal failures? Why is the government record pathetic in controlling crime and terrorism? Why when the government administers justice, the horrendous delays negate the concept of justice? Why are government budgets perpetually in deficit and countries eternally in debt? Why are governments constantly looking for increased revenues and forever increasing taxes? Why are government actions hallmarks of ineptitude and inefficiency? Why is corruption endemic?….Why?

Education in Indian Government Institutions

Posted by: on Nov 18, 2011 | 4 Comments

Can students taking admission in government institutions receive education free from the influence of political parties? This is very difficult especially in a country like India.

As per my experience when I enrolled at the Shri Ram College of Commerce in Delhi University, there was no routine or fixed schedule that was followed. Students attended classes as per their wish and it did not end there as the teachers too were not regular with their lectures. Often after travelling for more than two hours it transpired that the class had been canceled for the day which was not a pleasant experience.

I was so disheartened by all this that after just six months I gave up my seat at this college and I pursued a commerce degree at the university’s evening college. This gave me free time in the morning to do Chartered Accountancy.

Attendance at the evening college could easily be manipulated. I remained absent for most part of the year on the basis of a variety of excuses such as being bed-ridden because of typhoid or being affected by floods. The teachers were willing to give me attendance even when I didn’t attend classes. English was one of my subsidiary subjects and my attendance was such (zero) that I didn’t even know what my teacher looked like. It was only when I was told I will be debarred from giving my exams if my attendance did not meet the minimum requirement that I headed to locate my teacher and rectify the situation. It was then that I got to know that this particular teacher only came to college for four days in the entire year and I was thinking I was the only one bunking classes!

All this made me think about how a huge amount of money was being wasted on real estate and salaries of teachers, bureaucrats and administrators appointed by government education institutions like the Delhi University. The tax payer’s money goes into funding an educational system in which neither the teachers nor the students are serious about achieving any goal.

Government institutions involved in education are as bad as government institutions in business if not worse. The situation is abysmal. Universities and colleges that are run by government have become a hunting ground for politicking. This is primarily because of the presence of teacher and student unions supporting different political parties.

All this makes one feel that alternate options should be made available to students. Therefore, here too a need for competition is felt as it protects the needs of consumers who are students in this case. If students have a choice of selecting between a variety of schools, colleges and universities there will be a healthy completion and the teaching standards will also improve manifold.