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How Carbon Tax Promote Sustainable Resource Management and Influence Macroeconomic Variables?
How Carbon Tax Promote Sustainable Resource Management and Influence Macroeconomic Variables? The world experienced rapid expansion and technological advancement from last 100 years in different sectors like business, trade, banking, infrastructure, etc. However, it creates certain envirnmental challenges — global warming, ozone layer depletion, deforestration, water crisis, etc in certain areas. And therefore there is need to…
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Why Oligopoly Theory’s Understanding important in Today’s Business Landscape?
Why Oligopoly Theory’s Understanding important in Today’s Business Landscape? In today’s modern economic sytsem business models and orientation changing and expanding very rapidly. Today, all businesses in worldwide adopting Artificial Intelligence (AI) technologies to expand output and maximise profits. Therefore, analysis of oligopoly and its core understanding is crucial. Ologopoly is the type market structure…
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Can a Divided Market Be Equitiable and Fair? Price Discrimination, Efficiency, and Equity in Monopolistic Competition?
The concpet of price discrimination is possible only in the case of imperfect competition more specifically it depends upon the degree of imperfection in the market. For example, pure monopoly is most imperfect form of market structure where perfect competition has no imperfection at all and hence it is cosidered as the most idealstic form…
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Artificial Intelligence and the Economic Progress: Growth Driver or Disruption?”
How AI Can Unlock New Levels of Efficiency and Productivity The world has been witnessing tremendous shift after the launch of ChatGPT in the year 2022 by OpenAI. Although chat bots and AI are not new technology for humans it is widely used in diffrent sectors by many firms and businesses. However, the distingushing feature…
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Understanding the Bretton Woods System: Fixed Exchange Rates and the formulation of IMF
Understanding the Bretton Woods System: Fixed Exchange Rates and the formulation of IMF The aftermath of World War II demanded a new international economic order. The chaos of the Great Depression, fueled by competitive currency devaluations and trade barriers, was fresh in everyone’s minds. This article delves into the Bretton Woods System, a landmark agreement established…
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The Reserve Bank of India’s Journey as a Nation’s Economic Anchor
The Reserve Bank of India’s Journey as a Nation’s Economic Anchor The central bank of country is playing important role in each and every nation. It controls certain economic variables — inflation, money supply, depression, credit availbility according to the prevailing economic situation in the country. India’s central bank is Reserve Bank Of India which was established in…
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Understanding Zombie Firms: Why Companies Keep Operating Despite Losses
The business world thrives on dynamism, with new ventures constantly emerging and established players adapting to stay relevant. Yet, beneath the surface of this churn lies a curious phenomenon: the zombie firm. Unlike their terrifying namesakes, these companies aren’t flesh-eating monstrosities, but rather businesses that persist in a state of perpetual decline. These seemingly functional entities…
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Declining Returns and the Limits of Partial Equilibrium: Piero Sraffa Perspective
The economic theory of perfect competition has long been a cornerstone of analysis in partial equilibrium frameworks. This approach isolates a single market or good, assuming perfect information, price-taking behavior by firms, and constant returns to scale. However, within this framework, a fundamental tension arises when considering the concept of declining returns. This article explores…
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Will China’s Property Sector Crises push the World Economy in Deflation?
From last 2–3 decades China’s economic growth has been tremendous and thier position in the international trade is rising. China exported essential commodities such as rice, wheat, pulses to manufactured goods and raw materials to almost all the countries of the world. And due to this vast expansion China is in a position of trade…
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Opportunity Costs: The crucial role in Economic decision making.
In economic analysis the concept of opportunity cost has been widely used. In our daily lives, we are constantly faced with choices. From deciding what to eat for breakfast to choosing a career path, each decision entails a trade-off. However, economists go beyond the immediate costs and benefits of an option, introducing the concept of…
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Pratik Ghansham Salvi Assistant Professor of Economics | Banking & Finance | IMF Finance & Development Contributor 