Blogs - Page 2 of 5 - Eco-Binge

Monopolies in Sports: Impact on Competition, Politics, and Innovation

by Yash DubeyAugust 11, 2023October 16, 20230

In the realm of sports, monopolies wield immense power, dictating rules, tournaments, and revenue. While they foster unity, they also tread a fine line with politics and nationalism. The recent FIFA ban on Russian players due to the Ukraine conflict underscores this complexity. Monopolies, like the BCCI, can suppress innovation, as seen in the Indian Cricket League’s fate. Contrasting this, MMA thrives on competition, benefiting fighters and fans alike. The essence lies in balance: monopolistic control can breed stagnation, while competition fuels evolution, presenting an intriguing tug-of-war in the world of sports.

Hayek vs Rothbardians

by Yash DubeyJuly 30, 2023July 30, 20230

Hayek vs Rothbardians In social science disagreements are very common. Two scholars in a room are very unlikely to agree on everything. Economics being a …

Keynes Was Not a Socialist

by Yash DubeyJuly 23, 2023July 23, 20231

John Maynard Keynes is not just a popular but a revolutionary name in social science and especially economics. A British economist and professor at King’s …

Murphy Baffled: Government or Fractional Banking?

by Yash DubeyJuly 8, 2023July 8, 20230

In monetary economics, there have been two sides of banking, one that supports full reserve banking and the other that supports fractional reserve banking. This …

Trickle-down economics

by Yash DubeyJune 25, 2023June 25, 20230

Trickle-down economics is often misunderstood and associated with tax cuts for the rich. It’s a top-down approach that believes benefits provided to the wealthy will eventually benefit everyone else.

Embracing Puzzlers: The Ignored Innovative Minds
By Yash Dubey
March 9, 2024
In India, education plays a vital role in societal and economic advancement, yet it neglects 'puzzlers' - innovative minds divergent from traditional mastery. Entrance exams emphasize rote memorization, ignoring critical thinking. This oversight limits potential Nobel laureates and stifles academic innovation. Reforms must prioritize embracing diverse intellectual approaches to unlock India's full academic potential and foster meaningful progress across various fields. […]
A Message to Modern Economics Academia Based on the Hayekian Line
By Yash Dubey
February 2, 2024
In a Hayekian critique, modern economics academia is urged to reconsider its reliance on mathematical models and econometrics. Hayek's emphasis on the complexity of economic phenomena and the limitations of predictive techniques challenges traditional approaches. A more humble and interdisciplinary approach is advocated for a deeper understanding of real-world economics. […]
Balancing Liberty and Responsibility: A Pragmatic Approach for Societal Progress
By Yash Dubey
December 26, 2023
Balancing liberty with responsibility is key to societal progress. Individual freedom fuels innovation and prosperity, but without accountability, liberty becomes unstable. True liberty protects everyone's rights, not just majorities. Market mechanisms incentivize responsibility and outperform collective planning. While democracy safeguards political freedom, consumer sovereignty in markets drives economic progress. Let's unleash human potential through responsible liberty. […]
Bitcoin in the Market: In Search of Stable Money
By Yash Dubey
November 24, 2023
Delving into the history of money, this article traces its evolution and critiques Bitcoin's shift from a medium of exchange to an investment tool. It compares Bitcoin with gold and fiat, emphasizes the role of stable monetary policies, and advocates for ongoing innovation in the dynamic landscape of currencies. […]
Efficiency of the Market and Imperfect People
By Yash Dubey
October 16, 2023
Discover the real market – where people learn, adapt, and innovate. Contrasting textbook economics, this article delves into the dynamic world of entrepreneurship and human evolution in commerce. […]