Economics

A New Superpower? India’s Economic Rise Holds Promise for the Country and Beyond

India is on the rise, with its population now exceeding China’s and its economy projected to contribute 15 percent of global growth in 2023. Billionaire Nandan Nilekani has played a part in this transformation, helping to implement the Aadhaar identity card system and the “rails of the modern, digital world” payment system. With Prime Minister Narendra Modi at the helm, foreign companies are flocking to India, and the country is becoming a third economic anchor in a multipolar world – a reliable partner to the West and a viable alternative to the increasingly unpredictable China. Read full article here

Cryptocurrency Ethereum has slashed its energy use by 99.99 per cent

Ethereum has achieved a staggering reduction in electricity consumption, slashing its emissions by 99.99 per cent. This was made possible after an unprecedented experiment to ditch power-hungry mining in favour of a new approach called “proof of stake”. While Ethereum’s power consumption has dropped, research shows that many disgruntled miners who were left with expensive hardware decided to continue harvesting other coins. However, experts say a similar switch is unlikely in bitcoin, as its current, energy-dependent “proof of work” approach is too entrenched. Read full article here

How to Use Money as a Tool for Happiness and Fulfillment

In our pursuit of wealth, it’s easy to forget that money is a tool, not an end. Taking a moment to step back and reflect on how money is used can help us find balance and maximize our happiness. According to Stoic philosophy, inner peace and fulfillment come from making trade-offs and spending on things that improve our lives. We can still save money to prepare for the future, but we should also be willing to invest in experiences and activities that bring us joy. Optimizing for the average day will ensure a good quality of life and keep us from becoming restless. Read full article here

Why Taxation Is Not Theft

The concept that “taxation is theft” is flawed for two main reasons: first, taxation is legal, and we rely on laws to determine property ownership; second, taxation is essential to solve collective action problems and fulfill moral obligations, such as enforcing property rights. Taxation, therefore, is not only a legal practice but also a practical necessity for the existence of property rights. Dismissing the importance of taxation undermines the very concept of property and theft. Read full article here

Why a Strong Media Presence Will Help You in Economic Downturn

In times of recession, companies are looking for ways to cut costs, but instead of slashing their marketing budgets, they should be considering earned and owned media strategies. These are much more affordable alternatives and can be extremely effective – earning a company trust and loyalty from customers, which is essential to their survival. With the right amount of effort, earned and owned media can be an invaluable tool for companies looking to stay in the public eye. Read full article here

Non-doms are not fleeing tax hikes

The recent debate about the British tax system has focused on the ultra-wealthy and the so-called ‘non-dom’ tax breaks. But despite warnings that tax changes are driving away the wealthy, data suggests that the 2017 restrictions to the non-dom regime have barely had any effect on emigration. In fact, the reform is estimated to have boosted revenue collected without triggering an exodus. The current regime is deeply flawed, costing the UK £3.6 billion per year in lost income tax and capital gains. Read full article here

Moderna CEO: 400% price hike on COVID vaccine “consistent with the value”

Moderna is reportedly planning to increase the price of its COVID-19 vaccine by over 400 percent, to match the previously announced price hike of Pfizer-BioNTech’s rival vaccine. Not only that, the company has announced that it expects to make a minimum of $5 billion in COVID-19 vaccine sales in 2023, with their current cash and cash equivalents standing at $18 billion. Such a steep price increase has already been lambasted by lawmakers, who have accused the companies of ‘unseemly profiteering’. Read full article here

The Problems with DeFi & Crypto

DeFi (Decentralized Finance) is often touted as a solution to the crypto industry collapses of 2021-2022, but this article offers a more critical assessment. While there are certain advantages to DeFi, they come with problems of their own. Leverage is opaque and can be risky, and DeFi is susceptible to arbitrary seigniorage and smart contract exploits. The lesson here is that when it comes to volatile assets, cautious over-collateralized lending should be the way forward. Read full article here

Show off that you’re a small company

This article shows that size matters when it comes to choosing products – but it matters in different ways. If your product is low-tech, people will judge it as higher quality if it’s from a small company. If your product is high-tech, people will judge it as higher quality if it’s from a big company. So, when it comes to marketing your product, consider how your company size fits with the type of product you’re offering. Read full article here

Charted: Unemployment and Recessions Over 70 Years

There’s an age-old relationship in economics that you might not have seen before; for better or worse, unemployment and recessions have been closely correlated over the past 70 years. While unemployment does tend to rise during recessions and fall during economic expansions, very low unemployment rates often precede a recession. The severity of recessions can vary, with some resulting in more dramatic increases in unemployment compared to others. But there is one underlying truth: monitoring unemployment rates is crucial for understanding the health of the economy. Read full article here

FASCINATING READS, SUMMARISED

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