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Online shopping is faster, easier and more efficient than ever, and it’s a group of payment systems that facilitate these transactions: banks and credit card companies have payment systems like Visa, Mastercard and PayPal. What is their role and how do they make money? In an online transaction, three main parties are present: the buyer,... Continue Reading →
By Drishti Rai. Abstract Economic growth aids in reducing poverty and unemployment, improving living standards and budget deficits. Whether FDI stimulates growth in developing countries or not is therefore important as government policy prescriptions can be made accordingly. This question, however, has been often contested. In this paper, we examine the FDI-growth relationship in three... Continue Reading →
The exciting prospect of interplanetary economics is considered in Paul Krugman’s 1978 “The Theory of Interstellar Trade”, a paper in which he explores how interest rates should be calculated on goods in transit that travel at close-to-light speeds. At such high velocities, time varies between different inertial reference frames: the time taken by a spacecraft... Continue Reading →
DR: The financialising of industry and how it incentivises acquisition are manifestations of capitalism, the cornerstone of society. We have reached a point where banks, other financial bodies and large entities, including the Federal Reserve and the Bank of England, are deemed ‘too big to fail’. I have no doubt that if such entities collapsed... Continue Reading →
A platonic dialogue I wrote with my professor - by Drishti Rai & Professor James Soderholm JS: We have been discussing the problem of greed and the way a certain unregenerate rapacity has been underneath most of human history. One day I sketched for you a tiny farm that I imagine existed roughly 30,000 years... Continue Reading →
What is foreign direct investment? FDI is a category of cross-border investment made by an economic agent in one economy (the direct investor) to an enterprise in another. Traditionally, a foreign direct investment is a strategic manoeuvre with the objective of establishing a long-term, stable relationship with a foreign enterprise and between different economies. Such... Continue Reading →