The number of Indian families earning about $4500 to $22000 (Rs2,00000, Rs10,00000), which constitutes the middle class as per the World Bank’s definition of middle class in 1995-96 was 4.5 million per anum, the number of such households grew to 0.7 million in 2001-02. Now India has 28.4 million such families by 2009-10. One can say that the Indian families are growing rich, from poor or depraved families; they are traversing towards the middle income group range. Irrespective of the higher inflation rates, one can justifiably state that the number of high-income households in India has exceeded the number of low-income households and similar is the assertion of National Council of Applied Economic Research (NCAER).
As 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).
Global warming or climate change is a worldwide disquiet that needs to be addressed in a proper way. Scientific studies have regularly provided enough evidences regarding the regarding the human activities that harms the natural balance of our planet by producing large amounts of greenhouse gases (GHGs), most notably Carbon Di Oxide (CO2) by burning fuels. Now when it is established that global warming is a real concern, why is it that the world’s leading power, the United States is not able to legislate enough stern laws to check the pollution, emission of greenhouse gases, human activities that are causing global warming and to provide better greener ways to lead the world. The United States is the biggest contributor of green house gases, specifically the Carbon Di Oxide emission from coal based power plants, the Energy Information Administration (EIA) of U.S reports that the United States’ Greenhouse Gas emission grew by 12% between 1990 and 2001. The global warming has already raised the average global sea level by four to eight inches during the last 100 years. Scientists believe that the increasing levels of GHGs may cause acute climatic and health impacts on humanity.
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.
This is a theory I have been pushing forward for some time now but I rarely get support on it from libertarians despite of the fact that it is really promising and has huge positive consequences in a consistent libertarian theory.
Let me just straightaway come to the point. In a society of pure liberty, if an individual hires an assassin to kill someone, is this individual guilty of murder?
Yes we all know that the assassin is definitely guilty of murder, but the way we have grown up in the statist mindset it just sounds unjust to not punish the guy who is hiring people to murder others. Allow me to make my case on why its not consistent with the principles of individualism and liberty to hold the contractee guilty of murder.
What would it mean to live in a completely free society? In dealing with personal sovereignty, which takes precedence: freedom of association or property rights? At first glance, we know that these two are tied together into one idea through self-ownership but when looked at more deeply, they can conflict.
There are Two Constructions of Libertarianism as set up by Chandran Kukathas in Libertarian Papers Vol 1, 11 (2009). One of these is a world in which there is complete freedom of association—the right to give up your libertarian right for the moment to whatever is yours in order to live in a statist or communal society, which can end up a world where we have many property rights violations, like those born into such communities who are not shown the way. The other is authoritarian propertarianism–self-ownership protected against those who would take it from you; meaning immoral agents barricading the knowledge of your libertarian rights from you.
As libertarians, one of the reasons that we crave the salvation that comes with a stateless society is because we believe that within humans is the same need that we see in every living thing and even every subatomic particle that exists in the Universe–this is the ability to allow for autonomy, self-direction and the respect that should come with this responsibility. Even if something is an unthinking atom, a beautiful lantana flower, or a large beast like the blue whale, what we can say for sure is that the only thing obstructing their paths in doing what they so please and dealing with these consequences are the regularities of nature and the interspecies and intraspecies competition that comes with being part of a dynamic Universe and thriving world. I want to go over the correlation that we see between such passion in the political sphere and how it could and should extend to our personal lives.