To build and manage your wealth, you must look at your situation holistically: build your character, standards, dreams, goals, and personal aspirations from the inside out. By developing both self-sufficiency and a connection with your community, it is possible to create wealth for yourself no matter who you are, what you do, or where you come from.

    The debate has been mostly marked by mud-slinging and name-calling and the debates that have ensued often have no basis in fact. While most people have a hazy notion of black money, only a few are able to unpack the concept to reveal its various shades.In this e-single, which is part of a larger, ongoing work, Prof. R. Vaidyanathan provides the reader with a brief overview of black money—its generation, its estimates and how and why it is spirited away to tax havens. This is a unique, timely work that packs in much information and offers a 360-degree view of the issue.Prof. R. Vaidyanathan recently retired from IIM, Bangalore as Professor of Finance. He is now Cho S Ramaswamy Visiting Professor of Public Policy at Sastra University, Thanjavur.

    Together the chapters illustrate how economic theory and rigorous empirical analysis can shed light on some of the most important issues in social science and public policy namely, under what circumstances individuals break the law and how sanctions can be structured to most effectively prevent such behavior. This book will be an excellent resource for graduate students and researchers not only in economics, but in other social sciences as well. Brian A. Jacob, Harvard University, US This is a superb collection of one of the most important literatures in law and economics. The editors, two of the most productive and gifted scholars in this area, not only show the important historical evolution of the theoretical issues stemming from the seminal article by Gary Becker, but they also give a survey of the leading empirical works on the most salient issues in criminal justice. The editors introduction is a deft summary of one of the most significant contributions that economic analysis has made to the study of law. Thomas S. Ulen, University of Illinois, Urbana-Champaign, US The volume presents the seminal articles in the economic analysis of the criminal law. The articles include the path-breaking theoretical economic analyses of criminal behavior and the leading empirical tests of these theories. The volume also contains the most prominent economic analyses of the substantive doctrines of criminal law and criminal procedure. Other articles present influential applications of economic concepts and evidence to perennial issues in criminal law and criminal justice, such as gun control, drug prohibition, and sentencing policy. An introduction by the volume editors provides a comprehensive overview of the works included. Economics of Criminal Law will be an essential source of reference for scholars, graduate students in both law and in economics, and practitioners.

    As they see matters, wealth in the form of means of production and wealth in the form of consumers’ goods are essentially indistinguishable. For all practical purposes, they have no awareness of the existence of capital and of its importance. Thus, capitalists are generally depicted as fat men, whose girth allegedly signifies an excessive consumption of food and of wealth in general, while their alleged victims, the wage earners, are typically depicted as substantially underweight, allegedly signifying their inability to consume, thanks to the allegedly starvation wages paid by the capitalists.The truth is that in a capitalist economic system, the wealth of the capitalists is not only overwhelmingly in the form of means of production, such as factory buildings, machinery, farms, mines, stores, warehouses, and means of transportation and communication, but all of this wealth is employed in producing for the market, where its benefit is made available to everyone in the economic system who is able to afford to buy its products.Consider. Whoever can afford to buy an automobile benefits from the existence of the automobile factory and its equipment where that car was made. He also benefits from the existence of all the other automobile factories, whose existence and competition served to reduce the price he had to pay for his automobile. He benefits from the existence of the steel mill that provided the steel for his car, and from the iron mine that provided the iron ore needed for the production of that steel, and, of course, from the existence of all the other steel mills and iron mines whose existence and competition served to hold down the prices of the steel and iron ore that contributed to the production of his car.And, thanks to the great magnitude of wealth employed as capital, the demand for labor, of which capital is the foundation, is great enough and thus wages are high enough that virtually everyone is able to afford to a substantial degree most of the products of the economic system. For the capital of the capitalists is the foundation both of the supply of products that everyone buys and of the demand for the labor that all wage earners sell. More capital—a greater amount of wealth in the possession of the capitalists—means a both a larger and better supply of products for wage earners to buy and a greater demand for the labor that wage earners sell. Everyone, wage earners and capitalists alike, benefits from the wealth of the capitalists, because, as I say, that wealth is the foundation of the supply of the products that everyone buys and of the demand for the labor that all wage earners sell. More capital in the hands of the capitalists always means a more abundant, better quality of goods and services offered for sale and a larger demand for labor. The further effect is lower prices and higher wages, and thus a higher standard of living for wage earners.Furthermore, the combination of the profit motive and competition operates continually to improve the products offered in the market and the efficiency with which they are produced, thus steadily further improving the standard of living of everyone.In the alleged conflict between the so-called 99 percent and the so-called 1 percent, the program of the 99 percent is to seize as far as possible the wealth of the 1 percent and consume it. To the extent that it is enacted, the effect of this program can only be to impoverish everyone, and the 99 percent to a far greater extent than the 1 percent. To the extent that the 1 percent loses its mansions, luxury cars, and champagne and caviar, 99 times as many people lose their houses, run-of-the mill cars, and steak and hamburger.

    Written over 150 years ago in 1848, a period of history with great upheaval, it continues to be an important work on political economy, especially as we enter the dawn of the global economy. Politicians, business leaders, acamdemics and students of very different persuasions find the manifesto a basic and essential treatise to be understood. It has had a tremendous effect throughout history and will continue to influence the future of mankind. A Collector's Edition.

    It is important for every person to save for one’s retirement as one can expect to live for twenty years after one retires as life expectancy of an Indian is going up steadily due to lower infant mortality and better medical care. There is a complete absence of social security safety net for most Indians today, even for those working in Government sector, there is no inflation adjusted pension available anymore. I have tried to simplify the advantages and disadvantages involved in investing your savings in various asset classes. I have deliberately left out two of the most popular forms of investment among middle class Indians 1) Life insurance 2) Real estate Let us consider life insurance first most of us confuse insurance as an instrument of savings, it is not. We have this wrong view because of the tax breaks given to income tax assesses by the Central Government. Insurance is a product that mitigates risk and is sold by the rich to the middle class and is always skewed in the favour of the insurer rather than the insured. A substantial portion of the total money invested by you goes towards paying agent’s commission and premium for insuring you for the risk of mortality. The balance left out is invested in government securities and other securities. Hence the amount of money invested out of the total premium paid is less than half paid by the insurer. The return on money invested by the policy holder is less than half of the money he would have earned either in bonds or fixed deposits. A person who needs insurance is a person whose family will need support in the event of his untimely death. Alternately insurance is required for a person who has debt in form of mortgage and does not want to burden his family in the event of his passing. The product which covers these risks is called term insurance. One should not buy insurance to avoid taxes as there is better tax saving tools available. Real estate is also considered as a good investment by several retail investors but nothing can be further from the truth. Nobody makes money by buying plots in the middle of nowhere. The easy availability of mortgages from the nineties and the tax breaks given by the Central Government on housing loans has created an unparalleled boom in the residential market. There is now a painful correction process under way in that sector. The price of land is reflexively connected to availability of money. The lower the cost of money, greater the returns in real estate. Buying plots in the middle of nowhere is similar to buying lottery tickets as investment. Land cannot be liquidated immediately into cash at a short notice to meet urgent requirements. Cost of maintenance and protection of real estate from illegal occupation is prohibitive and time consuming. Verification of title deeds to the property is a complex process and needs sound legal advice. You should have a house to live and another to collect rent as rent is equivalent of inflation adjusted pension. The return on investment generated in the three different asset classes over 25 years would be in the following order 1) Equities 2) Gold and finally 3) Debt instruments. I enjoyed writing this book as a companion volume to my first book. It is my fond hope that you enjoy reading this book.

    Economics, finance, business & management

    As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, many--including economists and financial experts--were shocked by the speed at which events unfolded.In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalism--one that has been gestating for several decades. It is the "real" productive economy's tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading.

    What made ancient India the Golden Bird in the first place? What did China, the Land of the Dragon, have in common with India, and when did these two ancient civilizations diverge on their paths to global success? Raina Singhwi Jain discusses the immediate need and measures for a quantum jump in our attitude towards development. While conventional wisdom suggests improvements in manufacturing, the ease of doing business and digital technology, Jain goes a step further, drawing surprising parallels between other areas that beg our attention—process engineering, communication design, journalism, and education. This is a work of reflection and a call to action, urging Indian denizens to act now for a revival of the genius that lies dormant within each one of us.

    Marx’s Das Kapital For Beginners is an introduction to the Marxist critique of capitalist production and its consequences for a whole range of social activities such as politics, media, education and religion. Das Kapital is not a critique of a particular capitalist system in a particular country at a particular time. Rather, Marx ‘s aim was to identify the essential features that define capitalism, in whatever country it develops and in whatever historical period. For this reason, Das Kapital is necessarily a fairly general, abstract analysis. As a result, it can be fairly difficult to read and comprehend. At the same time, understanding Das Kapital is crucial for mastering Marx’s insights to capitalism.  Marx’s Das Kapital For Beginners offers an accessible path through Marx’s arguments and his key questions: What is a commodity? Where does wealth come from? What is ‘value’? What happens to work under capitalism? Why is crisis part of capitalism’s DNA? And what happens to our consciousness, our very perceptions of reality and our ways of thinking and feeling under capitalism?  Understanding and learning from Marx’s work has taken on a fresh urgency as questions about the sustainability of the capitalist system in today’s global economy intensify.

    For nearly forty years, David Harvey has written and lectured on Capital, becoming one of the world’s most foremost Marx scholars.Based on his recent lectures, this current volume aims to bring this depth of learning to a broader audience, guiding first-time readers through a fascinating and deeply rewarding text. A Companion to Marx’s Capital offers fresh, original and sometimes critical interpretations of a book that changed the course of history and, as Harvey intimates, may do so again.David Harvey’s video lecture course can be found here: davidharvey.org/reading-capital/

    It represents, in fact, the only systematic attempt so far ever made to combine the general theory of the “laws of motion” of the capitalist mode of production developed by Marx, with the concrete history of capitalism in the twentieth century.Mandel’s book starts with a challenging discussion of the appropriate methods for studying the capitalist economies. He seeks to show why the classical approaches of Luxemburg, Bukharin, Bauer and Grossman failed to accomplish the further development of Marxist theory whose urgency became evident after Marx’s death. He then sketches the structure of the world market and the variant types of surplus-profit that have characterized its successive stages. On these foundations, Late Capitalism proceeds to advance an extremely bold schema of the “long waves” of expansion and contraction in the history of capitalism, from the Napoleonic Wars to the present. Mandel criticizes and refines Kondratieff’s famous use of the notion.Mandel’s book surveys in turn the main economic characteristics of late capitalism as it has emerged in the contemporary period. The last expansionary long wave, it argues, started with the victory of fascism on the European continent and the advent of the war economies in the US and UK during the 1940s, and produced the record world boom of 1947-72. Mandel discusses the reasons why the dynamic upswing of growth in this period was bound to reach its limits at the turn of the 1970s, and why a long wave of economic stagnation and intensified class struggle has set in today.Late Capitalism is a landmark in Marxist economic literature. Specifically designed to explain the international recession of the 1970s, it is a central guide to understanding the nature of the world economic crisis today.

    This book, covering both the Cambridge IGCSE and O Level courses of the Cambridge syllabuses, draws extensively on real world examples to explore economic concepts, theories and issues. A number of activities, based on examples from qround the world, are designed to facilitate students' easy understanding of the contents. Principles and practices have been explained in simple language and lucid style to enhance the accessibility of the content to students whose first language is not English.

    ... thoroughly recommended.' David Harvey

    No one has bettered Keynes's description of the psychology of investors during a financial crisis: 'The practice of calmness and immobility, of certainty and security, suddenly breaks down. New fears and hopes will, without warning, take charge of human conduct... the market will be subject to waves of optimistic and pessimistic sentiment.' Keynes's preeminent biographer, Robert Skidelsky, Emeritus Professor of Political Economy at the University of Warwick, brilliantly synthesizes from Keynes's career and life the aspects of his thinking that apply most directly to the world we currently live in. In so doing, Skidelsky shows that Keynes's mixture of pragmatism and realism - which distinguished his thinking from the neo-classical or Chicago school of economics that has been the dominant influence since the Thatcher-Reagan era and which made possible the raw market capitalism that created the current global financial crisis - is more pertinent and applicable than ever. Crucially Keynes offers nervous capitalists - and Keynes never wavered in his belief in the capitalist system - a positive answer to the question we now face: When unbridled capitalism falters, is there an alternative? "In the long run," as Keynes famously said, "we are all dead." We may not have time to wait for the perfect theoretical operation of capital as the neo-classicists insist will happen eventually. In the meantime, we have Keynes: more supple, more human and more magnificently real than ever.