Monthly Archives: August 2007

The decision-making rules

A question from Yahoo! Answers: I need help with this question. I need a good, thorough explanation.? At times we all regret decisions. Does this necessarily mean we did not use the economic decision rule when making decision? There is … Continue reading

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India: what to do next?

A question from Yahoo! Answers: What does India need today? In what way can we, make it better? There are no doubts that life in India is very different from that in some other developed country. It is also without … Continue reading

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Expanding the reach of healthcare

A question from Yahoo! Answers: Given at least 46 million people uninsured or underinsured in this country what is the next best alternative? Who should handle the change if there is one? (Think critically rather than an opinion, i.e. economic … Continue reading

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India: is the growth sustainable?

A question from Yahoo! Answers: Do you think India is really economically growing strong… Or are we in a temporary money illusion? Let me start with a story that has nothing to do with India. Zhou Enlai was once asked … Continue reading

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Wealth and poverty

A question from Yahoo! Answers: Is there enough wealth in the world to bring everyoune out of poverty ??? The question is hopelessly misguided. Poverty exists not because there is not enough wealth, but because creation of wealth is restricted … Continue reading

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Why did China lose its edge in shipbuilding?

A question from Yahoo! Answers: Why did china lose its edge in shipbuilding technology? Because this edge did not serve any commercial interests. It rested on two pillars, admiral Zheng He and financial support given to him by the emperors … Continue reading

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What is a developed country?

A question from Yahoo! Answers: When a country is regarded as a developed country? There is no “official” definition. Moreover, the moniker “developed” is not used in professional discourse. The World Bank, for example, divides countries into groups according to … Continue reading

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The maximum possible wealth of the Earth?

A question from Yahoo! Answers: What is the maximum possible wealth of the Earth (i.e how much money can u make from the Earth’s resources? The question is misguided. The vast majority of wealth is produced by human labor and … Continue reading

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Emerging technology and healthcare spending

A question from Yahoo! Answers: How did the emerging technological breakthroughs influence the health care spending? They led to its increase. With new technology, conditions that used to be untreatable can be treated (and, with luck, even cured), albeit at … Continue reading

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The U.S. economy in the 1920s

A question from Yahoo! Answers: The U.S economy was so important to the world economy in the 1920′s… why? I was reading a book about the world economy and it said the u.s. economy was so important to it. why? … Continue reading

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