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.
Indians Are Not Blinking Idiots
This is an editorial by Mr. Rakesh Wadhwa in response to an article authored by Jug Suraiya and published on June 11, 2013 in the ‘Juggle Bandhi’ section of the Times of India. You may read the article here.
The Philanthropic Side of the Gaming Industry
According to a survey conducted by the American Gaming Association (AGA), every year, the gaming companies spend thousands of hours and more than US$100 million in charitable donations. Philanthropic efforts towards children, the destitute, food to the hungry and cleaning the society are some of the initiatives taken up by the online gaming industry to give back to the community. So,
A Eulogy for the Greatest Champion of Free Markets in Modern Politics
I say the greatest not because there weren’t others, but because there was or has been no other – till date, quite like her. Margaret Thatcher is the only woman statesperson who has been credited with an “ism” to her name. Her political and socio-economic ideology is today considered to be in a league with names as iconic as Marx, Gandhi, and Reagan.
Craps – The Most Exciting Casino Game You Will Ever Play
A piece of gaming news that made a lot of headlines recently was about New Jersey based Patricia Demauro, who set an astounding new world record for the longest ever Craps roll at the Borgata Hotel Casino & Spa in Atlantic City. Her roll went on for 4 hours and 18 minutes, leaving behind the previously held record of 3 hours and 6 minutes by a mile and a half. This reminded me, though not as glamorous as some other casino numbers, what an exciting and fun game Craps can be.
Free Markets – Making Virtues Out of Necessities
“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 interest.” – Adam Smith
Unabashed self interest may not be the ideal position to take in terms of moral thought, but it is the single most effective catalyst for economics that is as progressive and robust as it is fair. Why do people do the things they do? Why do they get up in the morning, and go about their business as a routine? In almost all cases, they are either trying to earn a living, or preparing themselves to be able to do so in the future. Who are they doing this for if not for themselves, and perhaps, their near and dear ones? The fact is, any economic activity that people engage in, is meant largely to serve their own personal interest.
Competition is Pivotal to the Sustenance of Free Markets
It is a fact that the biggest and the most successful business organizations in the world today are the ones that face the most competition in their respective industries domestically. Another well established fact is that nations and states that practice economies that come closest to being ‘Perfect Competitions’ have, not just the most satisfied and prosperous consumers,
Roulette for the Uninitiated
Roulette is a true casino classic. It has been an integral part of the casino gaming culture since time immemorial. It probably is the most visible, and definitely one of the most romanticized casino games in the world. Roulette has always been associated with glamour and class, and its place in popular thought as a symbol of casino culture, is unmatched by any other gambling activity.
Are You Good at Blackjack?
Blackjack is a deck game which, along with maybe Poker, is arguably the most synonymous with casino card game culture. It is played in many variations, such as the traditional shoe styles, single or double deck, continuous shuffler games, and other regional variations. For those of you looking to hone your skills at it, let me do a basic run down of the objectives of the game, and dispel some widespread but completely unfounded myths about it. While at it, I will also let you in on some simple and effective tips about this quintessential casino card game.
Popular Slot Machine Myths
Slot machine myths can range from innocuous to ludicrous. Let me start this one by sharing the story of Behar Merlaku, a Swiss national who “won” a 43 Million Euro jackpot while gaming on a slot machine in 2011 at a little known casino, in the non-descript Austrian town of Bregenz. Did Merlaku do something special?
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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