The rich get richer and the poor get poorer

Karl Marx when discussing economic inequality and the socialist criticism of the free market system (capitalism) implying the perceived inevitability  called the “Law of increasing Poverty”. Germany’s manufacturing sector is twice the size of Britain’s 23 per cent of national GDP, compared with 11 per cent according to World Bank. Germany has been thriving as…

200 years of Karl Marx

A Biography of Karl Marx one of the greatest thinkers of 19th-century rendering him more relevant than ever. A World to Win follows Marx through childhood and student days, his enduring friendship and intellectual partnership with Friedrich Engels, and Marx’s influences and explains his political and intellectual interventions and builds on the legacy of his thought,…

Equality and privilege in the midst of emerging superpower

 India one of the most divided nations on the planet aspiring to become the next superpower. James Crabtree reveals the titans of politics and industry-shaping India in a period of rapid change – from controversial Prime Minister Narendra Modi to the leading lights of the country’s burgeoning billionaire class. India is the world’s largest democracy, with…

Tilting voting from the elite democracy for the few

Zimbabwean-born ex- Goldman Sachs economist, and a free market polemicist, Dambisa Moyo’s Edge of Chaos, reveals the economic failings of the west, as the advanced industrial economies are suffering from weak growth because their leaders so far have failed to take tough long-term policy decisions. “Liberal democratic capitalism has become weak, corrupt and oblivious to…

Forward thinking public spending is critical for a prosperous society

Mariana Mazzucato, the author, a professor at University College, London, in her latest challenging book reveals who creates value, who extracts value and who destroys value and explains the need to change course in the wake of soaring inequality and declining growth. According to Mazzucato we need to re-think relationships between governments and markets, make…

India is world’s fastest-growing major economy

  The Indian economy has boosted as it grew more than 7 per cent on an annualised basis in the final quarter overtaking China. Data released yesterday show the economy grew at an annual rate of 7.2 per cent in the final quarter of last year, continuing its bounce back from a sharp slowdown in…

Economist can help us to realise the common good

Economics for the Common Good is a response to the crisis of the economics profession, whose credibility was badly damaged by the financial crisis of 2008. Frenchman Jean Tirole, who in 2014 won the Nobel Memorial Prize in Economic Sciences, has spent years at the Massachusetts Institute of Technology before building a strong economics community…

India, World’s 4th largest economy by 2022 after overtaking Germany

India to overtake Germany by 2022 as the world’s fourth-largest economy and push Britain out of the top five based on growth projections by the International Monetary Fund. On the way of course there may several challenges, which include executing a wide-ranging overhaul of the present tax system, sorting out the distressed assets among major…