Laissez-Faire
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Laissez- faire; what does this term convey? Laissez-faire is French for “leave alone”. It is one of the guiding principles…
Conspicuous Consumption
The term “Conspicuous Consumption” was coined by American economist and sociologist Thorstein Veblen in his 1889 book, “The Theory of…
Opportunity Cost
The concept of opportunity cost occupies an important place in economic theory. The concept was first developed by an Austrian…
Quantitative Easing
The European Central Bank recently pushed the button on a €1.1trillion bond purchase programme for the euro zone. The European…
On a slippery note !!
J. Paul Getty once said, “Formula for success: rise early, work hard, strike oil”. Oil is a vital source of…