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Nepal falls behind in economic freedom
In the Economic Freedom of the World Report 2016 Annual Report, Nepal ranks 108th out of 159 economies, with an overall score of 6.54 (in a scale of 1 to 10 where a higher value indicates a higher level of economic freedom). Nepal has dropped two places down in the global ranking compared to last year’s […]
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NOC Leaching in Broad Daylight
This year’s budget speech saw an interesting remark from the former Finance Minister Bishnu Paudel. The government decided to levy a Budhi Gandaki Hydropower tax to the citizens. In its defence, the government also further stated that entire Nepali people would not have to bear the burden of this new tax. The taxes would be […]
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Where the private investors are pawns
With the permission given to nine private companies to import and sell petroleum product, and thus break the monopoly of the state-owned Nepal Oil Corporation only on July 10 being scrapped on July 21, the Government of Nepal (GoN) has pulled a massive joke on the Nepalese private sector, and consecutively the Nepalese consumers. On […]
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Economics In One Lesson by Henry Hazlitt: Book Review
Henry Hazlitt’s book “Economics in One Lesson” is a rigorous case against the ideals of government interventionism in the market economy. In this book, Hazlitt takes an angle first conceived by Frederic Bastiat, an 18th century French Economist. Bastiat famously quoted, “Government is the great fiction, through which everybody endeavours to live at the expense of everybody else”, […]
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3 reasons why banning plastic bags is not pragmatic
If you are wondering how the plastic bag ban and the images of London in the 19th century and today are linked, we will come back to it in just a while. But before that: The fiscal year 2016/17 budget of Nepal has called for a ban on the use of plastic and polypropylene […]
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Violation of the Property Rights by the Budget
Property rights as defined by James D. Gwartney – Florida State University, Richard L. Stroup – Montana State University, Dwight Lee – University of Georgia in the article ‘Importance of Private Property’ involves ensuring three important criteria: 1. the right to exclusive use, 2. legal protection against invaders those who would seek to use or […]
