Uncle Scrooge's Economics

One person. That’s all it takes for someone to achieve what was once considered unachievable. History is full of such examples. Chanakya molded Chandragupt Maurya into King Chandragupt Maurya. Rishi Vishwamitra transformed his disciple Parshuram from a Brahmin into an undefeatable Kshatriya. General Sam Manekshaw's strategic brilliance led to the surrender of 93,000 Pakistani soldiers. Kapil Dev inspired India to win its first cricket World Cup. Arthur Howard helped Milkha Singh become the Flying Sikh. Narjit Singh guided Mangte Chungneijang into becoming Mary Kom. And JRD Tata mentored a young American architect, shaping him into the remarkable businessman we know today as Sir Ratan Tata. Our development is greatly influenced by the people we surround ourselves with. We tend to emulate their behaviors over time. Our first heroes are typically our parents. We don’t choose them; they shape our understanding of what’s right and wrong. Through them, we learn that dishonesty and arroga...

We all have heard the ancient saying that goes like, "Every dog has his day." What it basically means is that every individual will be successful or lucky at some point in their life. You all might be thinking about that one day that changed your life, for better or for the worse. Likewise, I believe that every country has their own day or a year that changes their destiny. Personally, I believe that the year that changed the world economy was the year 2008. The aftereffects of the crisis were so abysmal that some countries are still trying to recover. It didn't just give economic trauma to the world, but it also gave emotional and psychological traumas, which is the reason why emerging market countries have such low stock market participants. Of 198 countries compared on the percentage change in GDP between 2007-2009, the most impacted countries were predominantly the Eastern and Northern European countries.   Out of those 198 countries, I personally believe that Iceland...