THE MERCURIAN TIMES

Traditional Capitalism Capitalism is an economic system based on private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labour, voluntary exchange, a price system and competitive markets. In a capitalist market economy, decision making and investment are determined by the owners of the factors of production in financial and capital markets, and prices of goods are mainly determined by competition of goods in the market.  In TRADITIONAL CAPITALISM:- You have two cows You sell one and buy a bull Your herd multiples and the economy grows You sell them and retire on the income So here are the traditional values of capitalism :- - Make things that people want or do things that people want done in exchange for money or other valuta. -  A high standard of living is just the reward of hard work and intelligence. If other places have lower standards of l...

Mixed Economy is as an   economic system  that comprises a mixture of markets   and   economic planning ,   public ownership   and   private ownership . Profit seeking firms exist in the market. But unlike a free-market economy, the government has indirect macroeconomic influence over the economy through   fiscal   and   monetary policies   designed to counteract economic downturns and capitalism's tendency toward financial crises,   unemployment , and growing income and wealth disparities. In India we have a mixed economy. The public sector and the private sector compete in all industries except for- defence, railways and atomic energy. The government has divested in many PSU as they were loss making and Niti Aayog has suggested ways to revive sick units. The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015. NITI Aayog is the premi...

Uncle Sam’s illustrious Corporations Apple, Google, Microsoft, Amazon: American corporations are household names worldwide! The first American corporations were developed in the 1790s, almost instantly becoming key institutions in the economy.Though corporations existed in outside the United States in the 19th century ( Great Britain and Netherlands being a few examples) no other country took to corporate development like America.In fact, there was a brief period of unprecedented American corporate domination post World War 2 until the rise of Japanese competition in the world markets. “You have two cows.You sell one and force the other to produce the milk of four cows. Later you hire a consultant  to analyse why the cow has died.” This popular satire depicts accurately a modern American Corporation. Apathetic to the condition of these overworked employees, the American corporations also tend to hire cheap labor and hence tend to boost...

FASCISM The word ‘Fascism’ descends from the Latin ‘ fasces ’, the bundle of sticks used by the Romans to symbolize their empire.  This hints at the idea that Fascism attempts to recapture both the glory and social organization of Rome. Fascists are strong authoritarians. They are staunch followers of the political philosophy. Fascism is a government system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism . ”  Germans and Italians are examples of such nations. The way to achieve national superiority is through the state. 1 The ultimate goal of the major fascist regimes that have existed, like the regimes of the Italian Fascist Party and the German Nazi Party, was to pursue national greatness.   Fascism flourishes in countries with strong nationalism and weak democracies. A democracy is considered to be weak if it is inc...

   THE SUCCESSOR OF KARL MARX Communists are people with strong affinity to the idea of disintegrating the social barriers between the working class and the elite. Also known as ‘ free thinkers’ ,this sect strongly believes in atheism . In other words they need a solid proven theory behind anything mystical or something not yet clear to humans. In terms of politics , this term communism refers to a situation wherein everything and everybody is controlled and decided by the government, believing in the fact that government is the sole social welfare benefactor of the people. In India , Kerala and West Bengal are the only states where the communist government ever came into power. However 30 years of communist rule didn’t bring much welfare to the people in the state which still stands more or less exactly like the British left it. In Bengal when the communist government tried to takeover the land of the farmers for large scale industrialisation ,the government was ove...