Equal Income Distribution – Characteristic of Free Economies?
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
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?
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?
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?
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
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
Why Inflation is an Agent of Poverty?
India has had high inflation compared to most nations. The inflationary situation has been volatile since the financial year beginning 2010.The inflation in the Indian economy reached as high as 14.86% in April 2010.
What is the Reason for Nepal’s Poverty?
Nepal is among the world’s poorest countries. Poverty in this small nation is not only persistent, but is widespread. According to the 2010 Nepal Living Standards Survey, conducted by the Central Bureau of Statistics and the World Bank, 25.2% of the country’s population lives
How Laborious are Labour Laws?
Although the Indian economy is thriving, the upsetting part is that the Indian labour is not partaking in the boom. The employment in the country is not expanding as fast as the increasing working-age population. The wages aren’t rising as fast as the per capita
What Can Control India’s Inflation?
These days, international news is bombarded with excitement over India’s double-digit growth and speculations about when (and if) the Indian economy will surpass China’s. However, the scene is quite different domestically. In India, the hot topic of
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 government has no right whatsoever, to point a finger at me or my business. I am not a revolutionary. I just want to light up my cigarette and not get nagged about it. I believe in non-interfering attitude to attain more. 
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…