riting in Business Standard today, Surjit Bhalla has a table of the vote share of the CPI and the CPI(M) put together. I thought it would be useful to see this data as a time-series, so here is the result.
Click on the graph to see it more clearly. Each circle is a data point. The [...]

Last week, I looked at the first five planks of Karl Marx’s Communist Manifesto and the extent to which they have been integrated into the U.S. government. This week, I’ll examine planks 6-10.
6. Centralization of the means of communication and transport in the hands of the State.
Check. We have the Federal Aviation Administration (FAA), the [...]

All nation-states reside somewhere on the continuum between laissez-faire and total-state central planning. No country is completely capitalist and no country (with the possible exception of North Korea) is entirely socialist. So how are we to define roughly “capitalist” and “socialist” countries? Where is the dividing line? How do we know if we are still [...]

At a most appropriate time, Sukrit asks:

What is the difference between the Austrian business cycle theory and monetarism, and which one do you think is a more accurate description of how the economy works?

The first part is fairly easily explained, since much material is written on both. The second part is much more difficult [...]