Economics

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

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

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

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

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

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 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

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