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Nearly a month ago, Narendra Modi gave his plenary address at the World Economic Forum in Davos, Switzerland. He expressed what his audience wanted to hear: a strong defence of globalisation. In fact, he went as far as equating economic protectionism with terrorism...

India has been put into a perennial election mode with each year consisting of the general elections or those of the state legislatures. This kind of an environment is not at all conducive for an economy like India with reforms being the need of the hour, not populism. The cost on the government for conducting the elections in a free and fair manner has been increasing manifold every passing general election...

Before we delve into robots and robot taxes, let us digress for a minute. In ancient Greece, slavery was not a crime. In fact, it underpinned the very fabric of Greek society and played an integral role in its functioning. Slaves were status symbols for some, and mere tools in a workshop for others. Deemed less than human, slaves were thought—by the Greeks—to be better off in servitude. Without their masters, they were believed to have no purpose...

Let there be a factory which makes loud noise. And let there be a hospital next door. Also, let the subsistence of the workers in the factory and that of workers in the hospital depend on the respective enterprises. The hospital, however, needs a silent environment for it to function else the doctors cannot so much as use a stethoscope in the noise that the factory produces. What should be the solution to this problem?

It is often believed that being efficient in a market is the best way to keep our resources sustained and have a sustainable development in place. Increased efficiency leads to the manufacturing of products and the services to be provided at a cheaper price than it was before. This in turn increases the purchasing behavior and the use of such products...

Studying economic theory often feels like looking at a completely different world than the one in which we live every day. By using concepts likes rational choice theory or utility maximising functions, traditional economic models certainly gain in tractability and sometimes in insightfulness...

Behavioural economics is the subfield of economics that focuses on the psychological, social and emotional factors that influence decision making. It basically is the study of psychology as it relates to the decision making processes of individuals and institutions...

Let us consider a hypothetical world, in which a certain country named Winterfell is surrounded by countries Casterly Rock and Highgarden, both of which had carved a special niche for themselves in the International Market, thanks to their geographical location and intelligent techniques of harnessing the nature-endowed resources...

We've all heard the word “Margin”, It's is one of the most commonly used words in the English language. It means to provide with an edge or a border. For a layman the word margin has absolutely no technicality, but if we use the word from an economic point of view it becomes an intricate and a complex subject altogether...

Each and every one of us has definitely encountered the term “Game theory” somewhere or the other, in our lives. But what is it, exactly? In simple terms, game theory is the study of conflicts and cooperation that occurs among rational participants in a competitive situation, through mathematical models...

Nothing better illustrates government failure and the real estate crisis in an economy than the housing bubble. Nearly a decade after the United States bubble burst spectacularly, setting in motion a global financial crisis, this b-word is still doing the rounds. But what is this housing bubble that the market talks about...

The United States of America is the current reigning superpower, but have you thought why does it give the US Dollar, legitimacy as the international standard for trade...

All currency and commodity exchanges around the world are closely regulated, especially the ones that involve trades across borders. Any exchange that circumvented this governmental setup was termed as illegal trades and marked as the ‘Black market’, until now. Enter Cryptocurrency...

The age old concept of Universal Basic Income or UBI (for those who love abbreviations) has recently started gaining ears in Political discussions. With Governments across the Globe brainstorming antidotes of poverty, UBI is a concept worth serious deliberation...

After all the banter and criticism about the Variable Mess Fund Deduction, let's take a step back and take a look at it from an unbiased policy perspective. We'll also see how the chain of events that followed the announcement of Variable deductions from the mess fund for individuals were in line with what has been predicted and explained by existing theories. Some aspects of the issue have been knowingly skipped to focus purely on policy and refrain from discussing politics.

Reading the title, you must have thought, ‘Obviously, that must be a mistake!’, but let me assure you, it is not, and I shall in due course present a well-founded argument to that effect. But first before we move on, let’s see what the exact definition of selfishness is...

Where can you see an English Duke sipping an espresso with a 25-year-old tech entrepreneur from Salt Lake City? In one place, ladies and gentleman: Davos-Klosters--the Swiss getaway that hosts the annual World Economic Forum...

The Union Budget 2017-18 has been widely followed by tax-payers, stock market players, and other important stake holders in the formal and informal sectors. There's a good reason for that. Following the large scale policy intervention in the form of demonetization of the five hundred and thousand rupee notes, and the passage of the GST bill, there was a large interest in the tax structure that would be proposed and how it would directly affect the average Indian citizen...

As a student of economics, one frequents many questions that push us to rethink the role of economics in the modern age. There are doubts regarding how economics is being studied as an exact science, such as this article denouncing the Nobel prize in economics. There is criticism regarding the methods of study employed in economics as classical theory tends to be outdated and leaves little room for alternative schools of thought...

As 2016 came to a close, I’m sure that you, like most of the people, made a New Year's resolution and I believe, like the majority of them, you too are going to give up on it before the year is half over. Traditional economic analysis would attribute this result to a difference between what was expected and what actually happened...