MGM Resorts International Delays Opening of New Macau Resort to 2017
MGM Resorts International has decided to delay the opening of its new resort in the Cotai district of Macau, due to gloomy market conditions. Gross gambling revenues in Macau fell 34% in 2015, to a five-year low of $28.8 billion from a year ago,
Apple vs the FBI – A Case of Privacy vs Security
On December 2, 2015, two terrorists, Syed Rizwan Farook and his wife Tashfeen Malik, killed 14 people and injured 22 others in the city of San Bernardino, California. The couple were shot dead by the police in a shootout following a chase.
Sharad Joshi: An Economist Who Worked for India’s Farmers
Exiting 2015, India lost one of her free market champions, Sharad Anantarao Joshi. At a time when farmer suicides are becoming rampant across the nation, someone like Joshi, with his ideas for agriculture, will be sorely missed. Many have called
What Lies in Store for the Indian Economy?
In an interview with Indian Express, in November 2015, Finance Minister Arun Jaitley said, “The biggest strength of India and the silver lining is its resilience. Our systematic firewalls have to be such that the ability to resist the
Will Macau Steal Las Vegas’ Crown in 2016?
Unfortunately, Santa forgot to visit Macau in 2015. The year didn’t start off too well for this gambling destination, seemed to get worse as it progressed and ended in disappointment, with revenue down 34% from the 2014 levels. So, which casino
Global Economic Outlook 2016
With the world still seeming to recover from the last Great Depression, concerns regarding the global economy and its impact closer to home, in India, only seem appropriate. Bidding adieu to 2015, Managing Director of the International
A Constitutional Monarchy that is a Free Market – The Paradox of Bahrain
The kingdom of Bahrain is no more than an archipelago consisting of thirty islands in the Persian Gulf. However, when it comes to liberalism of economy, it surprisingly leads most countries of the world. The 2015 Index of Economic
Phil Ivey: The Tiger Woods of Poker
Phillip Dennis Ivey Junior was born on February 1, 1976 in Riverside California and moved to one of the biggest gambling states, New Jersey, when he was three months old. Before you start to wonder if the likeness to Tiger Woods is
Will the Gaming Votes Initiative be a Game Changer?
Americans will elect their 45th President on November 8, 2016. Other than the fact that a casino magnate is the early Republican frontrunner in the polls, there has been another unique feature of this election, in favour of the gaming
Dr. Roy Spencer: The Meteorologist Who is a Free Market Thinker
It is rare to come across a person who is as diverse as Roy Spencer. He describes himself as a climatologist, author and a former NASA scientist. Other than his many contributions academically, he is also attributed with many memorable
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.
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