Voluntary Tax: It’s Merely a Sugarcoated Pill
The US tax code states that it is based on “a system of voluntary compliance.” However, this is a complete misnomer. Taxation in the US, like most other countries, is instead based on the phrase used by highwaymen during robberies:
30% of Lithium Producers are in the Red: Who is to Blame?
The world’s efforts at energy transition depend on lithium. With EVs grabbing the spotlight, the global demand for this metal has been rapidly growing. And yet, the global lithium market is expected to remain oversupplied till 2028. As
Outsourcing is Not the Root of America’s Economic Woes
When was the last time you wore a jacket that you stitched yourself? Many of you, like me, would say “Never.” You probably didn’t manufacture the car you drive or build the home you live in. We all outsource to make our lives comfortable and
SWIFT: Time to Break Free from Centralized Oversight of the West?
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is the most widely used messaging network today to facilitate financial transactions between banks and other financial institutions.
Regulatory Pressure on Social Media Platforms: What About Free Speech?
Social media is the largest platform for communication today. It has gained so much popularity that there are over 5 billion social media users globally. That’s 60% of the global population!
Tariffs: A Double-Edged Sword That Cuts the One Who Wields it
Tariffs have grabbed the headlines ever since US President-elect Donald Trump’s election campaign. Countries are busy strategizing to brace for higher tariffs and engaging bilaterally with the US to avoid the imposition of this trade barrier. There are,
Fiat Money: Is It a Failed Experiment?
News of scams and cyberfraud are rampant now, and their proliferation can send chills down the spine. As many as 85% people were targets of digital scam attempts, according to the 2024 Secure Living survey across 7 countries. While such news grabs the spotlight,
Why the Next Nvidia or Netflix Won’t Be a European Company
Europe was the first major region to progress to a modern economy. The commercialization of agriculture and continuous cropping in the 17th century fueled the Industrial Revolution in the 18th century. Its history of innovation supported factory production and specialized
Global Minimum Tax Deal: The Flawed Notion of “Fair” Taxes
What do you call it when someone threatens you with dire consequences unless you pay them a part of your hard-earned money? Maybe mugging or theft? Taxes are not that different. You part with some of your money because you don’t want to face
US Sanctions: Who Suffers the Most?
In the first year of the Russian invasion, almost 35% of Ukraine’s GDP was wiped out. This marked the most terrifying recession in the country’s history. This is despite aid of over $230 billion received by Ukraine. While Ukraine has the war to blame for its economic woes,
Rakesh Wadhwa. Ever since, I was a school boy, I knew India was on the wrong path. Socialism was just not what we needed to get ahead. Government controlled our travel; government controlled our ability to buy and sell; and government controlled our freedom to move our money. My life has focused on the inherent rights people have. When I was in college, I never understood, what the governments meant by their "socialistic attitude". If people are free to buy, sell and move their capital themselves without any restrictions by state, then the welfare of people is inevitable & hence the countries they live in will become wealthy.
The Bastiat Award is a journalism award, given annually by the International Policy Network, London. Bastiat Prize entries are judged on intellectual content, the persuasiveness of the language used and the type of publication in which they appear. Rakesh Wadhwa won the 3rd prize (a cash award of $1,000 and a candlestick), in 2006.
What the readers are saying…