“For individuals, knowledge can always be considered as the most valuable asset. But for a country, especially for the third world countries where both the formal and informal institutions responsible for creating and disseminating knowledge have failed to do their job according to the specific requirements of the country, knowledge can become a great burden.”

The conventional wisdom says, “Knowledge is Power” and we do have very firm faith in this notion. This universal belief has a very distinctive and powerful impact on us as we shape our thinking, efforts and life-long devotions on the basis of this titular wisdom…

“Countries all over the world are using these special purpose, stop-gap economic policies to fight their emergencies. Why don’t they use these to solve their economic problems in ordinary times?”

Stop-gap economics can be referred to as an economic doctrine that is implemented as a short-term solution, only intended to serve a specific objective for a particular time period. An example of stop-gap economics can be wartime economics which is a temporary solution to a unique problem (the war) and is not meant to use in normal times.

Using prudently, stop-gaps can be beneficial in the long-run. For instance, the…

Can cheap labor be considered as a blessing for further development or is this just a collapsing dream, a particularly weaponized variant of exploitation for the third world economies?

Cheap labor is one of the key components that boost the modern capitalistic economic system. The rise of globalization and the socio-economic evolution during the last century promoted cheap labor extensively. In this era of globalization, exploitation has multi-faceted forms and cheap labor can be considered as one of the most influential means of such practice.

Cheap labor, by default, is encouraged through the colorful promises of elevated standards of living…

As a matter of fact, the global financial crisis, originated in 2008, was the greatest depiction of limitless greed and dishonesty of a few financial giants and their policymakers, primarily based on Wall Street. They’ve manipulated and destabilized the financial system for their own interest and paved the way to the ultimate destruction of the global economic harmony. The consequences were severe — extreme credit crisis, mass default of prestigious financial institutions, rapid economic downturn, massive unemployment and finally, social unrest.

The global financial sector technically sustains on one key catalyst–trust. And there’s another single thing that counters this life-blood…

The policymakers must sacrifice their petty desire of gaining short-run popularity through drastic economic measures and look forward to the national interest as a whole

Recession is one of the prime features of the modern capitalist economic system. Generally, an economic downturn/decline that continues for two consecutive quarters is labeled as a recession. Observed in regular intervals, this phenomenon is caused by quite a number of factors — i.e. increased interest rate, a higher level of inflation, reduced level of consumer confidence, reduced real wage rate etc.. Though the economic recession is usually considered as a normal part of the…