economics

We believe we're in a new world order that will shape the rest of our lives. We're at the beginning of financial and geopolitical regime change. These arcs of history are bigger than any one man – but Nixon’s Gold and China policies set the parameters of the world we’re now leaving.

more importantly, the small food and wealth surplus that was produced was captured by political and religious elites; siphoned off for their benefit.

The scale of this expropriation was vast. According to some estimates, by 1300, church clerics owned one-third of all agricultural land in Europe. The wealth generated by the peasants was directed into

A crucial understanding of the nature of corporate profitability is that it is a zero-sum game. Profits enjoyed by corporations must be financed by one of three macroeconomic entities dissaving: households, governments, or foreigners. Alternatively, profits can be generated by businesses choosing to reinvest in aggregate. This understanding allows

with electricity rose from less than 10 percent in 1935 to nearly 50 percent by 1945.

In absolute terms, total credit card spending has become large now. In absolute terms, the total spending through credit cards has almost tripled in the last 5 years. In FY25, the total spending through credit cards was over 6% of GDP or ₹21 trillion (US$250bn) in absolute terms. And almost 100% of the credit card payments are final household

We therefore decided to include many of the results of our work with key Ministries/Departments in a separate volume. Thus, Volume III of the Report covers the essence of our work on the key Ministries/ Departments which may be insightful for the readers.

Worse still, remember that the government will not subsidize just any daycare, school, or hospital. Naturally, funding will come alongside regulations designed to ensure that the recipient of those funds meets a minimum standard of quality and care. But since such regulations will naturally favor incumbent industry players (which are already not

I don’t know how many times I have to keep saying this before the rest of the profession figures it out. Never reason from a price change. It makes no sense to argue whether a higher price will increase or decrease quantity. Here is a S&D diagram. I dare you to show me how price changes affect quantity.

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And so why do we continue to delineate between the two formats of audiobooks and podcasting, and how much longer will that delineation survive? In response to that question about the future of the formats, my response typically went something like this: “In the future there won’t be audiobooks or podcasts. There will just be audio.”

The forced