In game theory there is this game of Chicken which goes like this: two drivers speed toward each other on a collision course. Each driver faces a choice: swerve or stay straight. The driver who swerves first is labeled the “chicken” and loses, while the one who stays straight wins. However, if neither swerves, both die in a catastrophic collision.
@nixxin Absolutely spot on!
This video reminds me of Vijay's interview on Paytm listing. He struggled to answer even the most basic questions from CNBC's @_prashantnair including a question on Paytm's business model. At one point he even began responding in a very condescending tone.
In India, we rarely celebrate economic freedom. Rarely ask for it.
In 1978, the 44th amendment to the Constitution removed the right to property as a fundamental right. If you start from 1956 (the second 5 yr plan) where the state seized the 'commanding heights of the economy' till 1991, we actually had 35 years of economic un-freedom.
Even now, the echoes of it remain in our lives.
1) The ever growing complexity of income tax.
2) The endless rounds of TDS we have to deduct or have deducted from us.
3) The compulsory EPF deduction, putting our money into a system which does not easily yield it back.
4) The compulsory annuity in NPS, forcing money into the hands of insurance company.
5) The restrictions on rupee convertibility, on LRS and the TCS imposed on remittances.
This is just in personal finance - if you turn to business, the state control is omipresent.
This independence day, I just hope we move towards more ECONOMIC freedom as India gets more developed.
When the powerless and the powerful live in different worlds, the world of the former cannot improve -- this is snowpiercer-101 :) My recommendation to our politicians / administrators is to live more in the world they are "trying" to improve. No VIP entrances and drop-offs at the gate, no pickup on the tarmacs, no special seating arrangements. Of course you don't care about traffic because all roads are cleared for your trips. You care about traffic on the tarmac because they can't clear that for you.
Per @bsindia
Only ~95 out of 795 active & presiding judges (12%) across 25 High Courts have disclosed details of assets. So despite swearing to bare it all, asset-wise,
their wallets stay shy, dodging the public eye!
Today in @mid_day: How @mybmc is taking Mumbai down with its senseless digging. Thousands of Borivli residents have to take a 6 km detour to cross a 300 m stretch. The civic body has dug up every road, every lane. Ward Officer says Chief Engineer is responsible, who is incommunicado! Story by @PrasunChoudhari. Photos by @DAVENIMESH
If you earn more than Rs.64,380 per month, you earn more than 95% of India.
That also means you hold more power than you think.
You can help someone from the bottom 10% with an amount as low as Rs.100
Here's how 👇🏻
From The Magic of Chemistry by Andrew Szydlo, how internal combustion engines work burning fuel
[Full lecture: https://t.co/ZTzLEjLU07]
https://t.co/2XGrcKm1Ng
When IND does PLI's it is bureaucrats trying to pick "winners" against the will of the free markets.
When developed economies do bailouts are they picking "losers" according to the will of the "free markets" ?? :)