What Happens Today Under the Pretext of Free Market
Free markets caused the 2008-2009 global meltdown. I hear people say this a lot. How can “freedom” make people work against themselves? President Obama said in a speech that the recession resulted from the fact that “everybody was left to fend for themselves
US Casino Industry Generates $125 Bn in 2010
The Unites States is still reeling under the pressure of a slowdown, they say. The casino industry seems to be telling us a different story altogether. Last year, the US casino industry and industries that depend on them generated $125 billion, according
Will a Laissez-Faire System Boost Economic Growth?
Which kind of economy would you vote for – a laissez-faire market or a planned economy? My vote is for free markets.
Was Laissez Faire Responsible for the Economic Crisis?
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 self interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our
3 Most Common Myths About Capitalism
If we take a look at the economic history worldwide, private businesses have been instrumental in improving the standard of living. Business houses have created job opportunities, invented products, made profits, helped impoverished people and
History of Gambling in the United States
A report of the American Gaming Association stated that 483 commercial casinos in the US gathered revenues of $34.6 billion in 2010. Nevada casinos boasted of $10.4 billion of the total revenue in the same year. Do these figures make you wonder about how and
Myths About Free Markets Debunked!
The AT&T deregulation in the 1980s offered competitive phone rates to the market. The US airlines deregulation in 1979 facilitated lower airfares and more choices to consumers. Despite these historic successes of a free market system, those
Can Free Markets Battle Corruption?
When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: ‘Yes, stand a little less between me and the sun.’ It is what every citizen is entitled to ask of his government.
Government Regulations Hamper Growth of Small Businesses
Being an ardent supporter of the free market, I had always known that government interventions curb entrepreneurs’ innovativeness, thus leading to fewer opportunities for all. Data from the World Bank Group Entrepreneurship Survey (2008) proves it. World Bank economists
History of Casinos and Gambling in Nevada
Did you know that gambling in Las Vegas is intricately linked with the Hoover Dam? July 3, 1930 saw President Hoover signing the bill for the establishment of the Boulder Dam (now known as the Hoover Dam). In 1931, when the construction work began, 5,128 workers were
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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