Aamchi Mumbai, Aamchi Best

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” Robert Kiyosaki in his book “Rich Dad Poor Dad” says that if a son uses the loan given by his dad to come out of his current financial crisis, he then has a ‘rich dad’; but if the son…

Education and the Economy – India and China

“Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family.”  –Kofi Annan With 2020 only two months away, we enter a new decade and the 29th year after the economic reforms of 1991. Considering this, it is imperative to look back at the growth of our economy. …

The Dawn of OTT Streaming Services 

The rising popularity of OTT is proof of how the Indian audience has had enough of stereotypical saas bhi kabhi bahu thi drama. Did you feel left out the last time your peers were discussing Sacred Games or Black Mirror?  If yes, you are not alone. We all have some shows to tick off our…

Fast Fashion: The Paradox of Rationality

While rationality in consumer behaviour has been an increasingly popular study in economics, with consumers looking out to maximise utility given their expenditures on commodities; we shall look closely and critically at this apparent rational behaviour via the industry of fast fashion. After all, it is important to know how rational the rational consumer behaviour…

Interview with Dr. Soumya Kanti Ghosh

We live in an uncertain and volatile world. There is such a strong interplay of different factors that sometimes it can become too overwhelming for us to make sense of these complexities. To help unravel these complexities, the Declassified Team caught up with Dr. Soumya Kanti Ghosh, the Group Chief economic advisor of SBI to…

The Experience Economy

Experience : Redefining Economy The way we consume goods and services has been slowly but steadily changing over years. As consumers, we no longer seek gratification from merely the commodity or service, but we also want an added experience to it. This is the experience economy, and you have, unwittingly, been a part of it…

App-o-nomics: How do App Developers Make Money?

Hungry, but cannot decide which restaurant to spend way too much of your money at for a plate of pasta? Need a taxi-service but every Kaali Peeli that comes your way keeps rejecting you?   Missing your friend in another country at 2am and want to see their face?   Mobile apps are flooding the…

Economics: Less is More

“Just enough is plenty” – Samuel Alexander In economics, scarcity refers to the idea that the world has limited resources and can never meet every human want. Whereas, abundance refers to the situation where the supplies are so high that most (if not all) human wants and needs can be met. Economics of plenty is…

Attention! Economy

As I sat down to finally put my thoughts on a word document for this blog post, I did what I usually do, I opened about ten different tabs, gathered information and research and started building an argument. Until I came across this – “[Nicholas] Carr … explains how the printed book served to focus…