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.
How the Concept of Laissez Faire has Evolved
Laissez Faire is a term that finds its etymological roots in the French language, in which it means ‘allowed to do’. Also referred to as ‘let it be’ economics, Laissez Faire refers to a sect of political thought that does not favor political interference in private sector free markets. It was claimed to have first been first coined by Marquis D’Argenson, who was to later become Louis XV’s foreign minister during the Austrian War, in his work titled Memoires, published in 1736.
Various political groups throughout American history have made it their clarion call, right from Thomas Jefferson to recent political leaders such as Ron Paul.
Laissez-Faire Leadership: An Oxymoron?
Also known as delegative leadership, laissez-faire leadership is a ‘hands off’ form of leadership, in which the leader believes in freedom of choice for his team. The leader provides minimal direction to the team and delegates most responsibilities to
Free Market: A Retrospective Through the Eyes of Bollywood
There is a trend of period movies in Bollywood this season! Directors and producers are lining up to recreate the magic of the golden age of the 70s and the 80s. From ‘The Dirty Picture’ to ‘Once upon a time in Mumbai’, it’s raining period movies all around. In keeping with this trend, you are about to be taken back in time to reminiscence how life was for the common man in these decades. You will also have a more substantial idea of how markets functioned and what it meant for the people of India, Bollywood ishtyle!
Equal Income Distribution – Characteristic of Free Economies?
The wealthiest countries are those that have free economies. There is a popular belief that the more capitalist economies in Europe, North America and even Asia (like Japan) have greater financial inequalities. But the true picture reflects a different scenario altogether. Such countries are better off than the socialist economies when it comes to distribution of wealth.
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