Reason for Liberty

Lemme explain the readers of this blog, the current global economic meltdown in simplest examples. I presume the reader of this article to be a complete noob of economics. Those a bit more expert in economics, might wanna read this article written by Robert Murphy, days before the financial meltdown occurred.
The worst recession in 25 years

What I am trying… Continue reading

Recently on Tuesday, October 16th 2008, RBI announced to inject Rs 2000 crores to help the mutual fund crisis of the Indian banks.
On first account, it may sound like a real example where the government proves its significance to help and foster the economy of country, but on a little deeper analysis, it will show simply that… Continue reading

The Nobel Laurete Paul Krugman,in his shockingly offensive article has put forward some solutions to the present economic crisis-Each one of them wrong and a dangerous step to take.He says that the nonfinancial economy is too desperately need of “help”. “The government should spend and spend.Let fiscal responsibility go to hell.We shouldn’t be

Many have told me that it was from Ayn Rand they learnt that Capitalism is not only the most practical, but also the only moral politico-economic system in the whole history of mankind. In my opinion, which I know is true, Rand’s moral defense of capitalism, despite her brilliance & strength of arguments, is really weak. Rand’s arguments overlook one

Action and thought are inseparable. All of Man’s actions are guided by thought. Even skills we take for granted, including our language skills & bodily movements became involuntary as of practice. In any act, the thought process involved is the theory and the action is practice. Given this obvious fact, it’s puzzling that some men find a dichotomy between theory and practice. What is that they intend to mean other than that men act on impulses? Continue reading

Cost-Push Doctrine

The believers of the cost-push doctrine think that an increase in demand would not raise prices in a situation where unemployment exists. They think that it would lead to more employment and hence, more production. They blame the price rise on some arbitrary