Adam Smith: On Reasons for Wider Income Gap

Adam Smith: On Reasons for Wider Income Gap

People's Choice Award: A Mother’s Hand, Alain Mafart Renodier, France

Photographer A. M. Renodier was on a wintertime visit to Japan’s Jigokudani Snow Monkey Park when he took this poignant photograph of a sleeping baby Japanese macaque, its mother’s hand protectively …

People's Choice Award: A Mother’s Hand, Alain Mafart Renodier, France

Photographer A. M. Renodier was on a wintertime visit to Japan’s Jigokudani Snow Monkey Park when he took this poignant photograph of a sleeping baby Japanese macaque, its mother’s hand protectiv…

Adam Smith: Government Comprises a Large Part of the Organized Injustice in any Society

Adam Smith: Government Comprises a Large Part of the Organized Injustice in any Society

Here is How King Salman is Diversifying Saudi Economy Beyond Oil

Saudi Arabia’s King Salman underlined the kingdom’s intention to invest heavily in speeding up is diversification away from oil exports with the inauguration on Tuesday of a $35bn mining and minerals…

Here is How King Salman is Diversifying Saudi Economy Beyond Oil

Saudi Arabia’s King Salman underlined the kingdom’s intention to invest heavily in speeding up is diversification away from oil exports with the inauguration on Tuesday of a $35bn mining and mine…

Iraq Ready to Cut Oil Production to Help OPEC Push Crude Prices - Iraqi Prime Minister

Iraq’s prime minister says his country will agree to cut its own oil production as part of a plan by OPEC to push crude prices higher, reported AFP. Prime Minister Haider al-Abadi told The Asso…

Here is What Vidya Balan Has to Say on Women's Post-Marriage Careers

Actress Vidya Balan has said that women's careers do not stop after they get married or have children and it should not be any different for female actors. "[W]hen... changes are hap…

People's Choice Award: Hitching a Ride, Daisy Gilardini, Switzerland

This female polar bear was resting with its two young cubs in Wapusk National Park, Manitoba, Canada, when it suddenly got up and rushed downhill through the deep snow. One of the cubs jumped on …

People's Choice Award: The Stare of Death, Johan Kloppers, South Africa

The photographer saw this wildebeest calf shortly after it was born in the Kgalagadi Transfrontier Park, South Africa. Little did he know that he would witness its death later that same day; the …

People's Choice Award: Opportunistic Croc, Bence Máté, Hungary

After taking this stunning photo, Bence Máté recalls how chilling it was to see the frightening, killing eyes of this 13 foot-long (4 meters) Nile crocodile. This croc was baited with natural car…

A Bank Mistakenly Puts Rs 98 Billion in a Taxi Driver's Account

A taxi driver from Punjab State of India, Mr Balwinder Singh's Jan Dhan account was mistakenly credited with almost Rs 98 billion by the State Bank of Patiala earlier this month, reported Hin…

Adam Smith: Most Governments are Formed by the Rich for the Rich

Adam Smith: Governments Often Stand in Defence of the Rich against the Poor

Adam Smith: The Real Tragedy of the Poor is the Poverty of their Aspirations

Barcelona to Give Pigeons Contraceptive Pills

Pigeons in Barcelona will be given contraceptive pills to reduce their numbers, as authorities are abandoning the practice of culling. Culling refers to killing animals to reduce their population.…

Samsung Galaxy Note 5 Users in South Korea to Get Note 7 Features

Samsung killed its flagship Galaxy Note 7 smartphone due to battery explosion. Battery explosions were reported from many countries.  Now, it is reported that Samsung has started rolling ou…

Here is How US Politicians Reacted to the Death of Cuban Political Leader Fidel Castro

Cuban revolutionary leader Fidel Castro has passed away at the age of 90 on Friday, Cuban state TV announced. The lawyer-turned-guerrilla overthrew the US-backed dictator Batista's gover…

Candy Vs Gun: Armed Robbers Flee as Shop Attendant Threw Candies at Them

A shocking YouTube video is making rounds as it shows an armed robber and his accomplice fleeing in a car after the shop attendant threw candies at the robbers.  It is seen that two robbers…

Timeline of Cuban Political Leader Fidel Castro's Life

August 13, 1926 - Fidel Castro Ruz born in eastern Cuban hamlet of Biran, son of a well-off Spanish-born landowner. July 26, 1953 - Castro leads armed uprising against military dictator Fulgenc…

Finland to Ban Coal Energy Before Coal Runs Out

Of all the fossil-fuel sources, coal is the least expensive for its energy content and is a major factor in the cost of electricity in the United States and many other countries. However, burning…

Rogue One: A Star Wars Story Trailer #3 Out

A new trailer for 'Rogue One: A Star Wars Story', the first stand-alone film from the 'Star Wars Anthology' series, has been released on 24th November. It is set ahead of the …

Airbus's Largest A350 Jet Carries Out Its Maiden Flight

Airbus' largest A350 jet, A350-1000, flew on its maiden flight on Thursday, reports said. The A350-1000 is also Europe's largest twin-engine passenger jet with a seating capacity of …

Adam Smith: It is Self Interest that Encourage the Sellers

Adam Smith: Inclusive Societies alone are Flourishing and Happy

Demonetization in Maldives, India and Europe

Demonetization is the act of stripping a currency unit of its status as legal tender. Demonetization is necessary whenever there is a change of national currency. The old unit of currency mus…

Pros and Cons of Joining EU

Turkey's President Recep Tayyip Erdogan said Turkey did not need to join the European Union "at all costs" and could instead become part of Shanghai Cooperation Organisation (SCO). …

More than 102 Million Trees Dead due to California Drought. Time to Plant Trees?

With the death of 36 million trees since May, the death toll due to drought conditions in California has risen to over 102 million, reports the Guardian.  The US state continues to face a s…

Eliminating Modern Slavery is a Collective Responsibility

Unlike our forefathers, no one from the present generation has tasted the bitterness of conventional human slavery, thanks to improved education, social integration and international agreements…

It is Not Deficit Budget But Priorities that Matter

Basic Keynesian analysis suggests that a deficit budget during a slowdown is a good thing. In the present slowdown in the economy due to external shocks, private sector spending is observed to …

Child Mortality has Significantly Decreased in the Last Decades

Child mortality, also known as under-5 mortality or child death, refers to the death of infants and children under the age of five or between the age of one month to four years depending on the …

Be Aware of Deceptive Recruitment, Coercion and Forced Labour

Forced labour can take many different forms. Victims are often tricked into jobs where they are paid little or nothing and then cannot leave because they have been manipulated into debt or ha…

Top 10 Reasons for the Growth of Online Shopping

The young and energetic youth of the country have less time for Conventional Shopping and the emergence of Online Shopping is helping them buy anything from any corner of the globe. There are s…

Objectives and Functions of the World Trade Organization (WTO)

World Trade Organization (WTO), international organization established to supervise and liberalize world trade. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), whic…

Indian Central Bank Proposes "Islamic (Banking) Window" in Conventional Banks

The central bank of India has proposed opening of "Islamic Window" in Indian conventional banks in an effort to gradually introduce Islamic Sharia-compliant (or interest-free) banking …

Retaliation in International Trade

Retaliation refers to action taken by a country whose exports are adversely affected by the raising of tariff or other trade-restricting measures by another country. Also called retorsion. GATT…

What is a Customs Union?

A Customs Union is formed by an agreement between two or more (usually neighboring) countries to remove trade barriers, and reduce or eliminate customs duty on mutual trade. A customs union (unli…

What is Bilateral Trade?

Bilateral Trade refers to the exchange of goods between two countries that facilitates trade and investment by reducing or eliminating tariffs, import quotas, export restraints and other trade ba…

What is Income Terms of Trade?

A refinement in the concept of net barter terms of trade was made by G.S. Dorrance by introducing the concept of income terms of trade. Dorrance defined income terms of trade as the index of the …

What is Optimum Tariff?

The level of a tariff that maximizes a country's welfare. In a nondistorted small open economy, the optimal tariff is zero. In a large country it is positive, due to its effect on the terms o…