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Spice of the Month

Big Ideas

Super star firms• Former RBI governor Raghuram Rajan said consumers were benefiting in a ‘big’ way from the business of scale with several services in the new technology age coming for free or very cheap. But we all know nothing is free, so it needs to be known who is paying for it when consumers get it for free.
• He also wondered whether the business of scale is creating ‘super star firms’ and as to who has the real power: “Is it large corporations or the governments?”
• More than being about too big to manage, it is about too big to control. Our corporations are becoming too big to control for our political systems.
Adam Smith on Education• Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism.
• For him, the responsibility of providing institutions “for promoting the instruction of the people” is one of the chief duties of the state.
Henry Kissinger's idea of World Order• Henry Kissinger in his book ‘World Order’ on likely world order =>
"It will be an inter-connected and possibly loose cluster of several regional orders, each upheld by a major resident power or powers but with some overarching set of common principles."