No Casino is an Economic Island
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,
How the Free Market Works
Free markets have been the idea that various doctors and thinkers of philosophy have espoused as being the sole approach to a truly democratic and equal society and economy. It is the free market and the free price system that makes goods from all over the globe, available to consumers.
Foreign Direct Investments in the Indian Economy
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.
India to Slide from Position of Second Fastest Growing Economy
The Asian Tiger seems to be getting into the crouching position again. It seems to be moving further and further away from the Dragon. While her neighbour China continues to rule the roost, India has moved down from its prestigious position as the world’s second fastest growing economy. According to the International Monetary Fund (IMF), India’s growth in 2012 will be reported at 4.5%. This is disappointing, since we were all out to cheer for the country surpassing its larger neighbour in terms of economic growth.
Why India and Nepal Rank Low in Economic Freedom Index
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.
What Lies Between Nepal and Economic Growth?
Nepal is among the poorest nations in the world. It ranks 157 out of 187 countries on the Human Development Index, with approximately 25% of its population living below the poverty line. According a World Bank report, the country’s
Macau’s Casino Industry: Driving the Economy!
When it surpassed Las Vegas as the world’s biggest gambling industry in 2006, that too by a huge margin (more than 5 times the revenue of Las Vegas), it left everyone amazed. And since then Macau’s gaming industry hasn’t looked back.
With a land area of 29 sq kms, Macau’s natural environment lacks major resources like forests or woodlands, arable land and pastures. This makes Macau’s its economy largely dependent on the service industry, of which a large share of the inflows is generated by the tourism and gaming industries.
Go Goa!!!
Which city has the highest per capita income? Some would say New Delhi. After all, it is the capital of the country. Maybe you would think Mumbai – the business capital of India. No, it is neither. You may be surprised to know that Goa has the highest per capita income, according to a report released by the Ministry of Statistics and Programme Implementation in May 2012. With its per capita income at Rs. 1,92,652, Goa is way ahead of the national average of Rs. 60,972 (more than three times the national average figure!).
Go Goa!!!
Which city has the highest per capita income? Some would say New Delhi. After all, it is the capital of the country. Maybe you would think Mumbai – the business capital of India. No, it is neither. You may be surprised to know that Goa has the highest per capita income, according to a report released by the Ministry of Statistics and Programme Implementation in May 2012. With its per capita income at Rs. 1,92,652, Goa is way ahead of the national average of Rs. 60,972 (more than three times the national average figure!).
Asian Casino Industry: A Good Bet?
Despite most countries across the globe struggling to emerge from depression and financial crisis, the Asian casino industry has something to cheer about and celebrate. The gambling industry is severely impacted by any slump in the economy. The reason is that gambling revenues are totally driven by consumer spending behaviours, which in turn is dependent heavily on disposable income. While the casino industry has been hit by the economic downturn, the projections for Asia are far from dismal.
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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