Does the European Union Strive for a Free Market Economy?
The 21-year old European Union has been a lightning rod of controversy, following the unwillingness of Ukrainian President Viktor Yanukovych to sign the agreement with them. Additionally, since Iceland’s withdrawal of its membership,
Taxes Impede the Transformative Project to Build a Binghamton Casino
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Resource Allocation in a Free Market: Is it Better?
Resource allocation refers to the way in which resources are distributed to produce various goods and services. One of the key characteristics of a free market economy is that all resources are privately owned.
Visa Restrictions from China Sharply Hit Macau’s Growth
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
On Joseph Schumpeter’s Idea of Creative Destruction
Creative destruction refers to the continuous product and process innovation mechanism by which new units of production replace outdated ones.
What does the Free Market Economist Arvind Panagariya Plan for India?
According to an article in The Hindu, published on January 13, 2015, Arvind Panagariya became the first Vice-Chairman of the Niti Aayog.
Raghuram Rajan: Backing India’s Dream to Reach for the Stars
According to a report in CNN IBNLive, published on January 13, 2015, Raghuram Rajan the Governor of the Reserve Bank of India (RBI),
What Power does the Free Market Hold?
“Our society is what we make it. We can shape our institutions,” says Milton Freidman in his book, Free to Choose.
Steve Jobs: An Inimitable Entrepreneur
Steven Paul Jobs, better known as Steve Jobs, is perhaps aptly described as one of the finest innovator-cum-entrepreneurs
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.
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