Uncle Scrooge's Economics

This blog will most likely be one of the most interesting topics I've ever written about, and I hope I can convey my excitement. Just to give you an idea, I am mainly going to cover 4 topics in the following way: the history of money, the gold standard, de-dollarization, and the future, respectively.  As early as the 16th century, money was really salt. It was used as a wage for the soldiers. When the soldiers procrastinated, the landlords used to say that the soldier was not worth his salt. Salt was called salarium, and that's how the word "salary" was derived. Later, a concept called obols was considered as a medium of exchange. It is said that the size of these coins was so small that people used to carry them in their mouths. So, when a Greek visited a place and thought of buying an axe, he coughed at the place and swelled the tax. Then there was a dark time when there was no money. During those times, traders invented the barters system, which was basically using...

  Before talking about how bonds are affected by the economic growth of a country, let’s talk about economic growth first. What exactly is economic growth? Economic growth means the prosperity of a nation because of increased economic activities. These economic activities can increase the production of economic goods and services. An increase in the working population, advanced technology, skilled labor, and productive work forces can all lead to the economic prosperity of a nation. One of the ways to measure the prosperity of a nation’s economy is by using an indicator called the GDP, or gross domestic product. GDP, in simple language, means the total sales made by a country in a financial year.  An increase in GDP on a year-over-year basis can mean economic prosperity because this year, the country managed to sell more goods because of factors such as economies of scale, skilled labor, PLI schemes, etc. The four main components of GDP are household consumption, government sp...

Ukraine was invaded by Russia on February 21, 2022.More than 100,000 people died, and millions were displaced. Large-scale migrations were experienced into countries like Germany (1 million), Poland (1.5 million), and the Czech Republic (0.4 million). Putin's war goes far beyond rockets and bombs. Possibly, it all started when the EU set forth the plan to shift from a fossil fuel economy to a renewable energy-based economy. Everyone, from a kid studying in the 5th grade to a senior citizen chilling on his couch, knows that the future is about renewable energies. Obviously, Putin knew about it. So, did he start the war to amalgamate the lost Russian land or to profit from high energy prices? Let's see.  Energy prices in Europe have been soaring. Some parts are facing major power cuts as well. The war has had such a negative impact on the EU that once-net exporting countries like Germany are now running trade deficits. But all this sounds familiar. It seems like this has happened...

  " To further provide impetus to green mobility, customs duty exemption is being extended to the import of capital goods and machinery required for the manufacturing of lithium-ion cells for batteries used in electric vehicles ", said our finance minister as she delivered India's 74th budget. India has been consistently talking about green energy and mission 2070. Even though the budget failed to shed some light on other green investments or on capital expenditures expected in the renewable segment, India's policy regarding a carbon-free economy by 2070 is rock solid.  One of the critical components that would play a significant role in transforming this oil-based economy into a green economy is the battery. If semiconductors are the brain, then batteries surely deserve to be where the heart is. Currently, China holds the position of the world's largest battery manufacturer. India is trying hard to become a manufacturing hub for various consumer electronic goods ...