Adam Smith, Capitalism, economic thought, food security, INCOMESCO

How the humble potato fuelled the rise of liberal capitalism

Building blocks. just simple via Shutterstock Rebecca Earle, University of Warwick What we eat matters to us – but we’re not sure whether it ought to matter to anyone else. We generally insist that our diets are our business and resent being told to eat more fruit, consume less alcohol and generally pull our socks… Continue reading How the humble potato fuelled the rise of liberal capitalism

democracy, Globalization, Nepal, power, Quotations

Global Development: Reasons behind the Region’s Instability

Nepal has gone through the political quagmire and uncertainty since a long. This is not only a case of specific country but also a notable problem of the homeland of more than half of the world’s population. Those countries and their hard working honest people are suffering from the by-products of global ‘aid, trade, security… Continue reading Global Development: Reasons behind the Region’s Instability

Banking, inequality, Quotations

Development: Transformation | Thought

“Development is about transforming the lives of people, not just transforming economies.” ― Joseph E. Stiglitz, Making Globalization Work  ♦♦♦ “People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.”… Continue reading Development: Transformation | Thought


Current economic model

Our current economic model is INEQUALITY by design. -Sharan Burrow   Image: WEF

Capitalism, Quotations

Gross Happiness

QUOTE We have been seeking happiness on the pain of others. Militarization, materialization and robotisation of human beings are the pain which is the routine job of so-called modern society. This is not the way of sustainability as well but we are talking so much about sustainability. Definitely wisdom is better than knowledge. Liberalism is… Continue reading Gross Happiness


Helicopter Money

Quote Helicopter Money ‘‘Central-bank balance sheets have swelled, and policy rates have reached their “near zero” lower bounds. There is plenty of cheap water, it seems, but the horse refuses to drink…policymakers have one more option: a shift to “purer” fiscal policy, in which they directly finance government spending by printing money – a so-called… Continue reading Helicopter Money


Financial Expansion Fuels Income Inequality

Financial expansion fuels greater income inequality, mainly because: People with higher income benefit more than poorer ones from credit-financed investment opportunities and the sector pays high wages, which are above what employees with similar profiles earn in the rest of the economy. This premium is particularly large for top-income earners” [**] / OECD Report ♦ Of course,… Continue reading Financial Expansion Fuels Income Inequality

Adam Smith, Capitalism, Quotations

Self-love: Quote

“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but of their advantages” ― Adam Smith, An… Continue reading Self-love: Quote

inequality, Quotations

The 4 biggest reasons why inequality is bad: T. M. Scanlon

T. M. Scanlon, Professor at Harvard University, describes the biggest four reasons why INEQUALITY is bad for society (Ideas.Ted.Com)  1. Economic inequality can give wealthier people an unacceptable degree of control over the lives of others. 2. Economic inequality can undermine the fairness of political institutions. 3. Economic inequality undermines the fairness of the economic system… Continue reading The 4 biggest reasons why inequality is bad: T. M. Scanlon


Asymmetric Globalization: Quote

In the name of globalization a firm simply can tell workers if they don’t accept lower wages and worse conditions, the company move elsewhere. By creating fear of losing job and pittance ‘asymmetric globalization’ has lowered the bargaining power of the workers.


Festivals promote diversity

  Festivals promote diversity, they bring neighbors into dialogue, they increase creativity, they offer opportunities for civic pride, they improve our general psychological well-being. In short, they make cities better places to live. David Binder

Adam Smith, Quotations

Complain: Quote

''Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.” ―… Continue reading Complain: Quote


The income tax: Quote of the day

♦ The hardest thing in the world to understand is the income tax. ♦ All meaningful and lasting change starts first in your imagination and then works its way out. Imagination is more important than knowledge.

INCOMESCO, Quotations

Why Nations Fail by Acemoglu and Robinson

Even if Chinese economic institutions are incomparably more inclusive today than three decades ago, the Chinese experience is an example of growth under extractive political institutions. Despite the recent emphasis in China on innovation and technology, Chinese growth is based on the adoption of existing technologies, not creative destruction.


Capitalism !

''The triumph of capitalism was the triumph of balance over imbalance. In turn capitalism now seems to be getting out of balance’’ -Prof. Henry Mintzberg