Indian Agricultural Debt Waivers: A Dangerous Economic Risk?

Guest Submission by Khush Patel Four months after the announcement of the Rs44,000-Crore Rupee Agricultural Debt Waiver Scheme proposed by the Karnataka government (approximately $6 Billion USD) Rajasthan, Madhya Pradesh, and Chhattisgarh have also announced farm waivers amounting to 31,000 crore rupees ($4.4 Billion USD). In the year 2017, the governments of UP and Maharashtra…

Tesla Chairman Steps Down After Great Quarter

Former Tesla chairman Elon Musk has resigned from chairman duties after a fraud scandal. The US accused Musk of saying he’d make his company private and stocks wouldn’t be for sale. Musk’s punishment is a fine of $20 million charged to Tesla and another $20 million to him but he will be allowed to stay…

Why Government Intervention in the Economy is Necessary

Capitalism drives innovation. There is almost no doubt in that statement, considering today most of the world lives in one system or another that thrives based on some version of a “free market.” It would be foolish however to also ignore the great costs that these systems bring. When profit is the motive, firms don’t…

Crisis Indicators are Returning: Is Canada’s Economy in Danger?

Canadian housing has raised at incredible and uncontrollable speeds in recent years. This spike in housing prices has become problematic for cities like Vancouver, British Columbia, where it is so unaffordable that there are empty houses while tens of thousands are left without a place to live. Not only that, but if the economy declined…

Why We Shouldn’t Care About The Dow Crashing

One cannot say no one saw this coming. The headlines, however, were alarmist as ever. The source of their doomsday tone: on Monday of this week, the DOW Jones index tumbled over 1,100 points in the United States’ biggest one-day stock fall since 2011. After weeks of boasting stock markets that were “smashing one record…

Why Amazon HQ2 is Bad News For Toronto

In 2017, online retail giant, Amazon announced it’s intention to open a second headquarters in North America. This was met by a massive influx of responses as cities across the United States and Canada vied to declare their interest in the project. Some of whom, even included huge tax write-offs in their proposals to sway…

The Two Roads of the United Kingdom

With the Brexit referendum in 2016, the United Kingdom has changed. The prime minister David Cameron resigned immediately after the results of the vote, having the party choose Theresa May as his successor. She then held an early general election in the hopes of having more control for their exit from the European Union but…

Universal Basic Income- Does it Really Work?

As the world continues to change there are many big ideas floating around within the political scene. When talking about economics, one big buzzword has been continuously popping up in both far left and right media outlets – universal basic income. In the simplest sense, universal basic income is when a government gives a set…

Fintech: The Future of Finance

The term financial technology, which evolved by the end of the first decade of the 21st century, refers to any technological innovation in the financial sector. This includes automation softwares in the financial industry such as trading, investing, and retail banking, and mobile technologies that facilitate people’s everyday lives. New financial technologies have just started…

Why should we care about China’s interest in Latin America and the Caribbean?

Chinese presence in Latin America and the Caribbean can be traced back to nineteenth and twentieth century migrants who established diasporic groups across the region. Chinese Latin Americans are found across the entire continent, intermingling with local cultures and social norms. Economically, however, the People’s Republic of China began to show more interest in Latin…

Is The ICC Selectively Targeting African Leaders?

Presently, a total of 124 countries are State Parties to the Rome Statute of the International Criminal Court (ICC) comprising 34 African states, 28 Latin American and Caribbean States 25 Western European and other states, 19 Asia-Pacific States and 18 Eastern Europe countries. Accordingly, the African continent has the highest number of state parties to…

African Elections Season

“This is probably going to be considered as the tightest race in the Kenyan political history as the polls are unable to indicate who exactly will emerge as the winner.”

Brexit: Shaken or Stirred?

“In response to Hammond’s actions, his approval rating has plummeted among other party members.”

The Eight-Year Wait For A Raise

July 24, 2009. 4.5 million workers across 31 states were greeted with an increase in the federal minimum wage to $7.25/hour. Signed by former President George W. Bush as part of the Fair Minimum Wage Act of 2007, it created $1.6 billion of increased wages for these families at a time in which the entire…

The Trump Presidency in Numbers

It has been six months into Trump’s presidency and the American people are starting to feel “great again”. A Bloomberg poll concluded that despite only 40 percent of Americans approve of the job they’re doing, they are feeling better about themselves, their financial and economic prospects. If Trump’s reading this, it should be a good…

How Austerity Failed Europe

Since 2008, conservative policymakers have prescribed austerity as a panacea to the beleaguered economies of Europe. Wolfgang Schäuble, German Minister of Finance, has largely been the face of the greater Eurozone push for austerity, writing up an op-ed in the Financial Times justifying its merits. Former UK Prime Minister David Cameron described it as ensuring “sound finances” in…

The Venezuela Vote: What Happens Next?

Venezuelans are about to make a pivotal decision: fully embrace the authoritarian doctrine of President Nicolas Maduro and his current communist regime? Or fight for a chance at change and political freedom? On July 30th, citizens will cast their vote regarding a redrafting of their national constitution. President Nicolas Maduro has ordered a 545-member constituent assembly by…

Germany and India: Bilateral relations in a nutshell

Bilateral relations between India and Germany are founded on common democratic principles and are marked by a high degree of trust and mutual respect. India was among the first countries to establish diplomatic ties with the Federal Republic of Germany after the Second World War. Relations grew significantly following the end of the Cold War and the reunification of…

South Africa: Second recession in less than a decade

What do you call a country who has experienced a second recession in less than ten years? Disaster? I call it South Africa. Yes, you read it right. South Africa is now officially in its first recession since 2009 after gross domestic product (GDP) shrank by 0.7% in the first quarter of the year, following…

The economic impacts of Terrorism

Let me ask you a question. Have you ever been personally affected by terrorism? Maybe a handful of you have been affected personally by it, but, the majority of you would say “No, we’ve not been personally affected by terrorism”. Well, let’s see the deeper picture. When we hear the word “terrorism”, most of us…

Post-Truth: How it has Swept the World and How it Leads to Fascism

When reading Timothy Snyder’s On Tyranny, you would find the phrase “post-truth”, a buzzword in the media meant to describe a phenomenon sweeping every facet of our increasingly interconnected society, a contempt for truth and an embrace of fiction and wishful thinking over objective facts. It is easy to dismiss the incantations of the media…

Venezuela: Money, Politics and Chaos

Venezuela is experiencing a socioeconomic crisis and national calamity. Presently, the country is in a state of emergency after two months of anti-government protests. This resulted in violent clashes between the government and its citizens. According to local sources, this situation has caused the deaths of over 50 people and led to violent confrontations with the police….