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.

    They wanted to know why McCain appealed so much to so many Americans, and particularly why he appealed to the "Young Voters" of America who generally show nothing but apathy. The "Director's Cut" (three times longer than the RS article) is an incisive, funny, thoughtful piece about life on "Bullshit One" -- the nickname for the press bus that followed McCain's Straight Talk Express. This piece becomes ever more relevant, as we discuss what we know, don't know, and don't want to know about the way our political campaigns work.

    He wanted to discover for himself whether it had become the circus that everybody described.But when a devastating avalanche swept across the Khumbu Icefall, he got more than he bargained for. Suddenly he found himself witnessing the greatest natural disaster Everest had ever seen.And that was just the start. Everest Sherpas came out in protest, issuing a list of demands to the Government of Nepal. What happened next left his team shocked, bewildered and fearing for their safety.

    But often, a company's published accounts offer clues to impending disaster, providing you know where to look. Through the forensic examination of more than 20 recent stock market disasters, Tim Steer reveals how companies hide or disguise worrying facts about the robustness of their business. In his lively style, he looks at the themes that underlie the ways companies hide the truth and he stresses that in an assessment of a company's accounts, investors should always bear in mind that the only fact is cash; everything else - profit, assets, etc - is a matter of opinion. Full of invaluable lessons for investors, the book concludes with some trenchant observations on what is wrong in the worlds of investment, audit and financial regulation, and what changes should be introduced.

    

    The participants in the controversy which raged during June–July this year forgot that as many four previous governors of the RBI have had their terms cut short. The recent debate has to be seen in this context. This volume focuses on all the governors of the RBI since 1935 and describes how almost all of them had problems with the government. It is inherent in the tasks they are charged with. It also shows how, after 1957, when Jawaharlal Nehru accepted the resignation of Benegal Rama Rau after the latter’s quarrel with the finance minister, T. T. Krishnamachari, the RBI virtually became a department of the finance ministry. Its claims to independence have been revived only after 2002, when financial sector reform changed the structure of a large part of the financial economy. The book ends with advice to future governors about what they should remember: they are the servants of the sovereign, not independent Wu-li masters. They have to manage the government, not fight it. Theirs, as a former governor sensibly pointed out, is a circumscribed independence, the perimeters of which are defined by the government.

    But the most significant danger posed by socialism isn’t that its implementation would lead to greater poverty and fewer property rights, it’s that socialism would create numerous moral problems, including the limits it would place on individual liberty and religious freedom. In Socialism Is Evil: The Moral Case Against Marx’s Radical Dream, conservative columnist and think tank research fellow Justin Haskins examines the moral perils of Marx’s socialism and explains why if socialism were to be imposed in its fullest form, it wouldn’t just damage people’s freedoms, it would obliterate them. Haskins argues it would be dangerous to attempt to create Marx’s utopian socialist world, and even more importantly, that such an attempt would be so highly immoral that it could reasonably be called “evil.” In Socialism Is Evil, Haskins makes the moral case against socialism and also describes in detail what socialists believe, the differences between socialism and communism, why Marx’s socialism will never be completely adopted, and why even the more moderate European-style socialism, called “democratic socialism” by some, is highly immoral and anti-American. Many socialists are kind, generous people with good intentions, but sometimes, good intentions can create devastating results. Socialism Is Evil briefly tackles some of the most important moral controversies surrounding Marx’s socialism, providing supporters of individual liberty with the tools they need to stop the rise of socialism in its tracks.

    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 has crippled the country’s economy for a long time to come. In this book, Arun Kumar, the country’s leading authority on the black economy, tells us why Modi’s gambit failed. He shows us the way in which the problem can be rooted out, provided the government has the political will and determination to act.Today, the black economy is estimated to be 62 per cent of GDP—or about `93 lakh crore ($1.4 trillion). Corrupt businessmen, corrupt politicians, and corrupt members of the executive (bureaucrats, police and the judiciary) are responsible for controlling the black economy and enabling its growth. If the black economy were to be dismantled and turned into a part of the ‘white’ economy, the country’s rate of growth would be 12 per cent. If it had not grown the way it has since the 1970s, India’s per capita income today would be approximately `7 lakh per annum ($11,000) and India would become the second largest economy in the world. If the black economy were taxed at current rates, it would generate `37 lakh crore in additional taxes and the union budget would show a surplus of `31 lakh crore instead of a deficit.The failure of successive governments to tackle the problem effectively has been the single biggest obstacle to eradicating poverty. It is the cause of both widespread policy failure and the inability of the nation to improve its living conditions rapidly.

    It has sparked major international debates, dominated bestseller lists and generated a level of enthusiasm—as well as intense criticism—in a way no other recent economic or sociological work has. Piketty has been described as a new Karl Marx and placed in the same league as the economist John Maynard Keynes. The ‘rock star economist’s’ (Financial Times) underlying thesis: inequality under capitalism has reached dramatic proportions in the last few decades and continues to grow—and not by coincidence. Thus, a small elite becomes simultaneously richer and richer and more and more powerful.Given the sensational reception of the not-so-easily digested 800-page study that spans back to the eighteenth century, the question as to where the hype around Piketty’s book comes from deserves to be asked. What is correct in it? What are the criticisms of it? And what should we make of it—both of the book itself and of the criticism it has received? This book lays out the argument of Piketty’s monumental work in a compact and understandable format, while also investigating the controversies that this book has caused. In addition, the two authors demonstrate the limits, contradictions and errors of the so-called ‘Piketty revolution’.

    For the first 92 years, the 135-year-old party was headed by a Nehru-Gandhi family member for only 11 years, even though Nehru and Indira were collectively the PM of India for 28 years. Then things changed. Indira was the party president for seven consecutive years, and succeeded by her son Rajiv Gandhi for six years. After Rajiv’s assassination in 1991, PV Narasimha Rao was party president for five years. Sitaram Kesri was the next Congress president for 18 months. Enter Sonia Gandhi. Barring a 20-month period when her son Rahul held the post, she has been Congress president for 23 years. During her ‘reign’, the party has seen an average 31.6% decline in vote share and a 50.2% reduction in seats in the Lok Sabha. Due to her not allowing a proper election for the post of party president — as was the norm for the first 92 years — the Congress is collapsing. Ever since the Modi-led NDA routed the party in 2014, several Congressmen have been complaining about “lack of effective leadership.” Narendra Modi. Whether you admire him or belittle him, adore him or chastise him, praise him or ridicule him, love him or hate him, no Indian can pretend to ignore the man. Since September 2013, he has been the biggest newsmaker in India . On 15th August 2020, Modi became the longest-serving non-Congress PM of India. The first three chapters of this easy-to-read book are about Congress party’s corruption. The next three analyse the 2019 elections in great detail. Then, there is a chapter about the Left Front and one on the Congress’ performance in each state since Sonia became the chief. The next eight chapters are about Modi, his successes, his failures, and the work he has done in 80 months. The longest chapter, divided into 14 sections, details the successes and failures of India’s 14 prime ministers. “Is Congress Becoming Anti-India” and “Congress-Mukt Bharat” are the final two chapters. The Appendix lays out ‘Agenda 2024’ for India.

    It was a TV appearance she dreaded and never wanted, but felt compelled to squash the rumors: it was rape. Now, with award-winning former investigative journalist Nick Lulli, she tells her story of survival; from the assault at the hands of the future president, to the veiled threats by a seemingly complicit presidential wannabe Hillary Rodham Clinton; Broaddrick believes now is the time to set the record straight and ensure victims everywhere are believed.

    

    Conservatively, Rs. 15 lakh crore (10 per cent of Rs. 150 lakh crore, our GDP in 2016-17). As for Indian money in tax havens around the world? Around Rs. 65 lakh crores. Truly astounding figures. Black money or kala dhan is a topic that has elicited much debate in recent times. The debate has been mostly marked by mud-slinging and name-calling and the discussions that have ensued often have no basis in fact. While most people have a hazy notion of black money, only a few understand it in its entirety. The issue of tax havens is perhaps even more misunderstood. Most people fail to see the connection between tax havens and black money. Black Money and Tax Havens is the first work that discusses both of these issues in depth and offers a 360-degree view to the reader. In this 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. He also lays bare the danger that is posed to world financial well-being on account of the lack of political will to tackle them. A unique and timely work that packs in much information in an accessible manner.