Praxeology: My Reflexions on India

Since the Narendra Modi’s BJP government came to power in 2014 the dreaded military industrial complex is taking its firm roots in India e.g., recently the present defense minister of India Mr. Arun Jatiley held consultations with representatives of Chambers of Commerce and Industry (CII) on the proposed Strategic Partnership (SP) model meant to promote the private sector in defense manufacturing . Not only this, already many Indian private companies are diverting their manufacturing businesses from consumer goods to war machines e.g., Tata Advanced Systems won a contract of surface surveillance radar project for Navy from the Ministry of Defense; Reliance defense also bagged a contract of 916 crore from the defense ministry; Mahindra group also signed a deal with Airbus to manufacture parts of its Panther helicopters in India.  These are all the worrying signs of the dangerous military industrial complex taking its deep root in the Indian economy and society. Alre...

The latest victim of Socialism is Venezuela. Following are some headlines of past few months concerning that country: Venezuela Is Starving Once Latin America’s richest country, Venezuela can no longer feed its people, hobbled by the nationalization of farms as well as price and currency controls Venezuela death toll rises as unrest enters fourth week  Death toll jumps to 20 in Venezuela protests  GM halts operations in Venezuela after factory is seized  Maduro orders Venezuela army into streets  Clashes in Venezuela as Maduro starts constitutional rewrite Ranks of Political Prisoners Grow as Democracy Ebbs in Venezuela  Venezuela has a bread shortage. The government has decided bakers are the problem  Emaciated Venezuelan elephant becomes latest symbol of food crisis    Venezuela's epileptic patients struggle with seizures amid drug shortage  Venezuela is down to its last $10 billion  Venezuela Follows India’s Exam...

Many parents in different states of India, including the state of Gujarat which is my home state, are right now agitating against private schools (sic) for higher fees (see here , here and here ). Troubled about the rising cost of their children’s schooling many of these parents are asking the government to control the fees of these schools. The question here is: is this the right way of achieving their goals of lower fees school education? Let us see. Why School Fees are High? A basic understanding of the demand and supply analysis will throw light on this question. Education is a scarce economic good just like any other such good like apple or orange that is trading in the market, and consequently its price (fees) is also determined by its demand and supply forces just like prices of apple and orange. In the education market parents and children are the consumers who are demanding education services and schools are the suppliers of those services. The price of education w...