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Innovation, Institutions, and Creative Destruction: Explaining the 2025 Economics Nobel

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 The Sveriges Riksbank (Nobel Prize) Prize in Economic Sciences in Memory of Alfred Nobel was given to Joel Mokyr, Philippe Aghion, and Peter Howitt on October 13, 2025, "for having explained innovation-driven economic growth." Mokyr got half of the prize, and Aghion and Howitt split the other half.  Why these three? Joel Mokyr is an economic historian whose research explains why long-term, self-reinforcing growth happened when and where it did. Mokyr contends that growth is fundamentally rooted in a cultural and institutional framework that incentivises curiosity, accommodates dissent, and transforms valuable knowledge into practical techniques and tools. His research connects the Enlightenment's faith in progress, the simultaneous development of science and engineering, and the rise of mechanical skills to the Industrial Revolution's departure from thousands of years of almost no growth. Mokyr succinctly delineates the prerequisites for sustained, innovation-driven ...

Is Democracy a Myth In India

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  Today, democracy is considered the most esteemed political structure in the world. On the other hand, a thorough analysis of democratic governance, particularly in India, highlights fundamental questions: Does democracy truly represent people? Is it truly beneficial to them and allows them to select the appropriate leader? Based on current circumstances, it appears that democracy may be more of a myth than genuinely effective. The Democratic Ideal vs. Reality According to Abraham Lincoln's well-known definition, democracy is "government of the people, by the means and for the purpose of that." This aspirational ideal continues to shape democratic theory. Robert A. According to Dahl's "On Democracy", democracy is a political system in which the people have political power, whether directly or through elected representatives, and is founded on the principles of political equality, participation, effective representation. According to Joseph Schumpeter, democ...

The Danger of AI

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 It has been approximately four years since AI came into prominence. It brings numerous benefits as well as significant drawbacks. The introduction of Google Flash 2.0 has opened the door to fake photo generation, morphed photos, and deep fakes. In this article, I will cover its potential , along with their implications Edit images, keep characters consistent, or generate visual stories from text. Plan and arrange interior spaces efficiently. Easily modify and enhance anime-style visuals. Change background just like real  Introduction of Google Flash 2.0 has amplified these risks by enabling the creation of hyper-realistic visuals with unprecedented precision. These advancements make it increasingly challenging to differentiate between authentic and fabricated content. The root causes lie in sophisticated technologies such as deep learning and generative adversarial networks (GANs). Google Flash 2.0 leverage these algorithms to produce lifelike facial expressions, movements, ...

Difference between Naga and Aghori Sadhu

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 As we know, the world's largest gathering festival, Kumbh, is going on. Sadhus from across India and even the world have visited Prayagraj. Among them, two famous names, Naga Sadhu and Aghori, have become a buzz. Let's know the difference between them Naga Baba: Naga: Naga means serpent or those who practice kundalini hath yoga - a sacred meditative exercise. Guru: Naga Sadhus adore Bhagwan Adi Shankaracharya as their Guru. Lineage : Naga sadhus belong to Dashnami sect of Hindu monk Dwelling: They generally stay in woods or deserted temples in upper Himalayas. Festival: They regularly participate in Kumbh Snana - a sacred fest that occurs after 12 or 6 years of Hindu panchang. Training: Naga sadhus go through a rigorous verification and then training process along with sacred vows. It takes 12 years to become a Naga sadhu. Naga sadhus study Vedas, yoga and traditional martial arts. Naga sadhus are celibate and totally detached to assets, family and society in general. Sacre...

The Danger of fiscal deficit

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Reading time 3.30 min In this article, I am covering what a fiscal deficit is, the current position of the fiscal deficit, Why the fiscal deficit is decreasing, why there is a chance of an increase, and how to reduce the fiscal deficit, also called fiscal consolidation. Let us discuss these one by one. What is Fiscal Deficit  Fiscal Deficit is the difference between total expenditure and the Revenue Receipts (including Non-Debt Capital Receipts). FD is reflective of the total borrowing requirement of Government. Revenue Deficit refers to the excess of revenue expenditure over revenue receipts. Effective Revenue Deficit is the difference between Revenue Deficit and Grant-in-Aid for Creation of Capital Assets. Primary Deficit is measured as Fiscal Deficit less interest payments. Effective Capital Expenditure (Eff-Capex) refers to the sum of Capital Expenditure and Grants-in-Aid for the Creation of Capital Assets.. Fiscal deficit is usually presented as a percentage of th...

How Central Government plunder Haryana

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In this article, I am writing about the financial drain of Haryana. Before starting this, I want to glance at the BJP’s last 10 years. Haryana recorded the highest unemployment rate, where the national average unemployment rate is 8.1%, and Haryana’s average unemployment rate is 29.1%. Shockingly, the women’s average unemployment rate is 15%, but in Haryana, it is 64.9%. As per NCRB, Haryana has overtaken big states in terms of comparative crime rate. Haryana ranked second in the country with a murder rate of 3.8. The crime rate of Haryana is two and a half times higher than a big state like UP. As this article is about the financial drain, I am not covering drugs, farmer issues, and mass foreign migration here. GST Collection from Haryana - In April, the Haryana government collected ₹12,100 crore in GST (PIB Report). If we take the average monthly collection, it is about ₹10,000 crore per month. As the government romanticizes per capita income as their achievement, let’s consider the ...

Tax Terrorism and NDA

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On 23 July Nirmala Tai announced the country’s budget. The opposition criticized it as being anti-poor and lacking relief for the middle class. Meanwhile, the BJP claims it will be a game-changer for the underprivileged and middle-class citizens.  In my view, this budget is merely old wine in a new bottle. The only new provision I found, apart from the existing ones, is the internship program for youth. Otherwise, most of the other aspects remain unchanged. Tax Terrorism  In this annual finance report, we find a 28% GST on cars and bikes and a 5% GST on helicopters and airplanes. Means government thinks cars and bikes pollute the environment more than airplanes. However, In Call BJP MP Vijay Baghel explained that helicopters and airplanes are considered high-value, which is why they have a lower tax rate. He also mentioned that bikes and cars can be replaced by public transport, but helicopters and airplanes cannot. Aircraft and helicopters are high-value goods, but ...