Economics

What is wrong with Venus Project?

Venus project is another attempt made by people who look at a market economy from outside, and think they see numerous vestigial elements which they think are not needed anymore, or since they fail to see their utility, consider it restrictive, and then they conclude that they can do better by removing those vestigial elements from a market economy.

Karl Marx did the same, he saw the market being divided into owners and workers, so he came up with Socialism. He saw ownership of means of production has vestigial element. Keynes did the same, he saw Stock market crash and economy not recover so he came up with his ridiculous theories about Keynesianism. He saw Gold standard as vestigial element of the market. And so on Time after time people keep on coming up with theories to fix the market because they all see how Market works from outside, and are unable to figure out why many things exist in the market.

The Capitalist in a Socialist society

Photo by Guesus, released under Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic licenseAs I understand more and more economics(by Economics I mean Austrian Economics, the real kind, not mathematical model of calculating how much you prefer your kids studying theory of evolution vs intelligent design and calculating National Patriotic Index), I realize more and more how easy is it to show the problems with theory of Socialism.
One of the things I realized early on was that a purely voluntary socialist worker’s union would be completely feasible in a capitalist society. If a bunch of men want to create a worker’s co-operative where profits are distributed equally among everybody, essentially it is the same thing as a company fully and equally owned by its workers. Just do not allow any individual who does not work in the company to own the capital goods(means of production).

The Aftermath of Struggle against Recession

Defining recession is not an easy issue specially when there is no widely approved definition for recession. Newspapers and popular business tabloids suggest that recession is a period of general economic decline that causes and results in decline in the Gross Domestic Product of a country for two or more consecutive economic quarters of a financial year. The conventional associated indicators, causes or results of recession are considered to be a decline in stock market figues, dropping realty sector prices, and a steep rise in unemployment rate. Yet, the definition does not emphasize on any such consequences and hence it cannot be termed as a universal definition of recession. Furthermore, with this definition of recession that depends on two quarters of financial year, it is very difficult to mention the exact point of time of the beginning of recession and it is impossible to suggest what was the actual cause of recession. That is, recession remains a mystery.

Why is India poor?

It is probably an often thought question, but rarely answered correctly by most of the people. What makes a country like India poorer than a country like say America? I have tried to answer this question since I was a kid, then as an adult.
Lets see, most people might answer to that question as “India is poor because it lacks so and so “, the effect being something India does not have because its poor, and US has because its richer, and not a cause of Indian poverty. For example, some people might answer
“India is poor because it lacks infrastructure western countries have”, or
“India is poor because of lack of education among people”, or
“India is poor because its very corrupt, and it has politicians who manipulate people etc etc”.

The Most Influential Books to Lead You towards Liberty

Elliot once said that “Books are the quietest and most constant of friends; they are the most accessible and wisest of counsellors, and the most patient of teachers.”
It is hard to argue against that, books are the most patient and wisest teachers. We learn a lot deal of things through books, books are the building blocks of our ideas and though process. Books actually are the raw material provided to us by the precedent generations to use their experiences, knowledge and desire to explore better terrains of life. Books are not only the best friends; they are a challenge for us, a challenge to develop more, to beautify the ideas further, or to at least learn that, which already has been mentioned, searched, thought and quoted in the book.
Books give us a chance to look further, think forward, and create better and revolute the life to achieve new heights.
A book can change your life, giving you new dimensions to think forward and create your own ventures to relish and enjoy. A book let you live more than one life, it let you explore the territories of ideas you never had thought of.

Golden Coinage in India

With the fall of silver in 1873, Indian Currency Committee suggested British India government to adopt for gold standard and in 1898 British government instead of adopting a Gold Exchange Standard, pegged Indian rupee with British sterling.
After Independence, Indian government started minting Indian coins (rupees); Indians thus never got a gold standard for representing their money
Now since last 63 years, Indians have so much used to the government issued currency, cycles of inflation and depression and always increasing price rise, that even talking about gold standard and private coinage seems to be impossible. Yet, since Indians were in habit of using private monometallic coins in past, it is imperative to discuss the issue of private coinage. Taking the premises of Freedom for everybody and the Self-Governance (Swaraj), which has been extolled by the Indians as a basic Mantra of life, let us examine the case of private currency carefully.

Consumerism is a Boon for Human Development

Consumerism is the principle of Free Market, which states, free choice of consumer should rule the market, or, the consumer decides the economic structure of the society. Producers and providers bring their products to the market and make it certain that consumers, the public, may gain enough knowledge about their product so that, if the consumer decides that the particular product is good, they may buy it.
To spread the knowledge of their product, producers advertise and apply proper marketing strategies. The consumer remains free either to accept the product and buy it, or to reject it at certain price.
Now days, producers are delivering good attractive services, better comfortable products and advanced technologies in the market. Some people claim that all this advancement is redundant and nobody needs it.