"It should not escape notice that gold and silver after circulating in every other quarter of the globe, come at length to be absorbed in Hinduston"
Inflation, Repo Rate, Credit policy, GDP et cetera are becoming fancy terms among public. Of course, they are fancy and I am not denying with that. For those who don’t know all those fancy terms, Inflation means the rate at which your money loses its value (Don’t go for bookish definition, it took a semester for me to understand that, yes, I was slow). Higher the value of inflation, faster the eradication in the value of money takes place. Here, my question, is it a good thing or a bad th...
THIRD WORLD DEBT CRISIS, I think many haven’t heard of this as I didn’t till last week. It is not the 3rd debt crisis that the world has faced (to be precise facing), as the name suggests, but it is the crisis of the third world nations. Seriously, there is a very interesting story, at least I felt it is interesting, behind the world debt crisis. We need to go back to the Second World War time to get good understanding about the roots of this crisis.
The story begins…..;)
Indus valley civilization, which flourished between 2800 BC and 1800 BC, had an advanced and flourishing economic system. The Indus valley people practiced agriculture, domesticated animals, made tools and weapons from copper, bronze and tin and even traded with some Middle East countries.
Agriculture was the main economic activity of the people in the Vedic age but with the second urbanization a number of urban centers grew in North India. This gave a major fillip to trade and commerce....