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.
The Garden State to See a New Casino
According to a report by the Associated Press on May 26, 2015, a new casino is said to open in New Jersey, outside the limits of Atlantic City.
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destruction refers to the continuous product and process innovation mechanism by which new units of production replace outdated ones.
Steve Wynn, Casino Magnate
When you hear the name Wynn, you think Wynn Resorts, Wynn Macau, Wynn Las Vegas.
Asia Expected to See Casino Growth in 2015
According to a report published by Forbes Magazine on January 7, 2015, Wynn is one of the several resorts looking to
A Beginners Guide to Casino Gambling
“Run for the hills, while you still can!” This is something you always need to keep in mind as you enter the casino. And,
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.
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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