Notes and Study material for Exams
International Cooperation: A Vital Force in a Globalized World The world today is more interconnected than ever before. Global challenges like climate change, pandemics, and economic instability transcend national borders, demanding collective action and cooperation. International cooperation, therefore, is not just a diplomatic nicety but a crucial necessity for addressing these complex issues and ensuring … Read more
Regressive Taxation: A Burden on the Poor and a Threat to Equality Taxation is a fundamental aspect of any modern society, serving as the primary means of funding public services and infrastructure. However, the way taxes are levied can have a profound impact on income distribution and social equity. One particularly controversial form of taxation … Read more
Navigating the Labyrinth: A Comprehensive Guide to General Anti-Avoidance Rules (GAAR) The pursuit of tax efficiency is a natural instinct for individuals and businesses alike. However, this pursuit can sometimes lead to the creation of complex and artificial arrangements solely designed to minimize tax liability. To counter such practices and ensure a fair and equitable … Read more
The Tobin Tax: A Controversial Solution to Global Financial Instability? The global financial system, despite its complexity and interconnectedness, is often characterized by volatility and instability. This inherent fragility has been exposed repeatedly, leading to devastating consequences for individuals, businesses, and economies worldwide. In the wake of the 2008 financial crisis, the search for solutions … Read more
Tax Expenditures: Hidden Subsidies in Plain Sight Tax expenditures, often referred to as “tax breaks” or “tax loopholes,” are provisions in the tax code that reduce tax liability for specific individuals, businesses, or industries. They deviate from the standard tax system by offering preferential treatment, effectively providing a subsidy through the tax system. While seemingly … Read more
The Negative Income Tax: A Potential Solution to Poverty and Inequality The concept of a negative income tax (NIT) has been debated for decades as a potential solution to poverty and inequality. It proposes a system where individuals below a certain income threshold receive government payments instead of paying taxes. This article will delve into … Read more
closed-economy: Here is a list of subtopics related to open-economy and closed-economy: Open economy Trade Comparative advantage Absolute advantage Terms of trade Capital flows InvestmentInvestment
The International Monetary System: A Journey Through Time and Challenges The global economy operates on a complex web of interconnected systems, with the International Monetary System (IMS) serving as its crucial backbone. This intricate framework governs the exchange of currencies, facilitates international trade and investment, and promotes global economic stability. Understanding the evolution, structure, and … Read more
Foreign Direct Investment: A Catalyst for Global Growth and Development Foreign direct investment (FDI) plays a pivotal role in the global economy, acting as a catalyst for economic growth, technological advancement, and job creation. It involves long-term investments made by companies from one country (the source country) into enterprises in another country (the host country). … Read more
The Balance of Payments Surplus: A Sign of Strength or a Warning Signal? The balance of payments (BOP) is a record of all economic transactions between a country and the rest of the world over a specific period, typically a quarter or a year. It essentially tracks the flow of money into and out of … Read more