This post contains fabulous longform articles categorised under Economy and Business. These are handpicked articles over the course of years for CAT Aspirants. This post contains articles I had shared in 2018 and 2019.
Every Article will have blurb, either written by me or an extract from the original post (mostly the latter) followed by the link to reach the article.
“It is a case of capitalism at its most hyperactive and brazenly inventive: take a freely available substance, dress it up in countless different costumes and then sell it as something new and capable of transforming body, mind, soul. Water is no longer simply water – it has become a commercial blank slate, a word on to which any possible ingredient or fantastical, life-enhancing promise can be attached.”
“To understand what has gone wrong, we need to start first with the centralised nature of the current government. Not just decision-making but also ideas and plans emanate from a small set of personalities around the Prime Minister and in the Prime Minister’s Office (PMO). That works well for the party’s political and social agenda, which is well laid out, and where all these individuals have domain expertise. It works less well for economic reforms, where there is less of a coherent articulated agenda at the top, and less domain knowledge of how the economy works at the national rather than state level.”
“While China is the biggest consumer of both products, the United States follows close behind as the world’s second-largest consumer of oil and the third-largest user of sand. Depending on its market price, crude oil is often the first or second most exported good in the world by value. Today’s relatively low prices put crude oil exports in second place, after automobiles. At the end of 2015, the U.S. government rescinded a forty-year ban on the export of crude oil from the States, and since then the country has aggressively reentered the global oil market, becoming the world’s third-largest exporter of petroleum and its refined products, behind Saudi Arabia and Russia.”
“The bank was searching for a way to escape this bind, and found it in Janklow. “We were in the poorhouse when Citibank called us,” the governor recalled in a later interview. “They were in bigger problems than we were. We could make it last. They couldn’t make it last. I was slowly bleeding to death; they were gushing to death.””
“Today’s global economy has an insatiable need for raw materials. That’s as true for China’s rise as it is true for the maintenance of America’s economy. With China exporting some 40% of its GDP, Americans need to understand that behind that Made in China tag at Wal-Mart is a mutually reinforcing death spiral. We are beginning to overwhelm our host.”
Short but brilliant read on student debt.
“For Walsh, ballooning tuition didn’t leave much time to consider such questions. The average cost of attendance at public, four-year universities has increased more than threefold since 1987, with much of that increase occurring after the year 2000. This has spawned a vast, all-consuming student finance industrial complex, replete with numerous financial products that emerged like rats from a trash heap to help families pay for their children’s education. In addition to 529s, there are direct private and federal parent PLUS loans.”
“Boris Johnson will kiss hands the next day, not elected by us, not with our consent, no “one nation” unifier but leader of a dysfunctional, disunited kingdom. He will get the usual goodwill poll bounce: May and Gordon Brown had theirs. Skipping spring-heeled across the Downing Street threshold, full of vacuous optimism and “let the sun shine in” self-intoxication, he may bring smiles to the faces of admirers.”
““My input costs shot up from 4,000 to 15,000 rupees [$62 to $235],” remembers Manam’s brother Veeranjaneyu, who still works as a farmer. “The yield increased a little, but not nearly enough to cover the increase in input costs. And my crops sold for less money than before. I was forced to take out six lakhs [$9,412] in loans from private moneylenders. The loan has been a horrible burden on my life.”
“The system now pits human against human,” says Manam, arguing that capitalism reduces the world to competition and cruelty. “People should always be kind and loving to others. People should help one another, whether that person is family, a neighbor, friend, or complete stranger.””
Much detailed version of Anil Ambani’s Journey. Worth reading.
“Anil Ambani – whose surname is so powerful in India that when Ambani sneezes, the who’s who in India catches cold – was asked by the top court of the land to clear his dues or risk going to jail. In a country, where the rich and powerful rarely follow the rule book especially when things go wrong, the Supreme court’s decision is both ground-breaking (for the masses) and earth-shattering (for the classes).”
” Even with training, some said, it is exceedingly easy to revert to the original biases.
“In the moment of stress, we tend to forget our training,” said Mark Atkinson, the chief executive of Mursion, which provides a simulation platform for training workers in skills like interpersonal interactions.”
“Brands like Glossier and Milk have garnered impressive cult followings, thanks to their social media-friendly packaging and refreshing approach to beauty. But, by and large, most brands seem to be all about finding the next trendy ingredient, featuring it in their products and convincing us that their formula is better than the others on the market.
The fact is, certain products don’t work for certain people. We’re all unique, with different skin types or hair types, and have different goals for what we want to achieve. Most beauty brands aren’t selling products tailored to individual consumers. Instead, they’re selling a brand, a luxury, a lifestyle or some product that will magically work on every skin type and solve every skin problem.”
“The following is from an old article from 2015. The article is not just factual, but also opinionated. One can expect to see similar articles in the CAT.
Right to buy is a zombie policy – an idea that’s intellectually dead and widely accepted as harmful, but one that politicians keep trying to revive. Keen for an easy vote winner that essentially amounts to bribing voters in social housing with eye-watering discounts of up to £103,000, the Conservatives have proposed extending right to buy to Britain’s 1.2m housing association homes.”
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.
“The United States cannot win its tariff war with China, regardless of what President Donald Trump says or does in the coming months. Trump believes that he has the upper hand in this conflict because the US economy is so strong, and also because politicians of both parties support the strategic objective of thwarting China’s rise and preserving US global dominance.
But, ironically, this apparent strength is Trump’s fatal weakness. By applying the martial arts principle of turning an opponent’s strength against him, China should easily win the tariff contest, or at least fight Trump to a draw.”
The world of work is undergoing a massive shift. Not since the dawn of the Industrial Revolution in the 18th and 19th centuries and the Information Age that followed in the last century has the scale of disruption taking place in the workforce been so evident. An oft-cited 2013 study from the University of Oxford predicted that nearly half of American jobs—including real-estate brokers, insurance underwriters, and loan officers—were at risk of being taken over by computers within the next two decades. Just last fall, the McKinsey Global Institute released a report that estimated a third of American workers may have to change jobs by 2030 because of artificial intelligence.
Neat article that pokes around with questions that are supposedly Common sense. Talks about how spending culture has lead to the America being where it is now, and why it is important for the old to retire and let the young take on the reigns.
““Look out for China.” “Look out for robots.” Robots? The robots have yet to appear, as Lawrence Mishel of the Economic Policy Institute has pointed out. (If they were here, productivity would be accelerating, he has said, but that isn’t happening.) Toe-to-toe, it’s the elderly and not the robots who are taking jobs from the young. Too many workers are showing up. In a sense, millions of new elderly workers are gushing into the workforce—simply by staying put.”
Why is it difficult to invest in China? Does the government mechanism strong-arm western investors just with their policies in-to “Forced” technology transfer? Read on to know. Informative read. “China’s main official argument is that, as a developing country, domestic firms are at a disadvantage vis-à-vis foreign investors, which possess advanced technologies that the local companies do not understand. But while this argument may hold water in some of the less developed countries that use it to justify restrictive FDI regimes, China’s technological capabilities have exploded over the last couple of decades.”