Term of the Week: TULIP MANIA

DETAIL FROM JAN BRUEGHEL THE YOUNGER’S SATIRE ON TULIP MANIA, 1640 What was this esctacy ? Tulip mania was a period when tulips were recently introduced and bought in large quantities by many people. This caused tulip prices to shoot up. They were sold at prices higher than skilled workers' income. After reaching a peak, tulip [...]

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FUN FACT: THE ORIGINAL PONZI SCHEME

We define a Ponzi scheme as a fraudulent investing scam promising high rates of return with little risk to investors. These schemes rely on a constant flow of new investments to continue to provide returns to older investors. 1920 photo of Charles Ponzi, the eponymous originator of the scheme. via wikipedia The Ponzi scheme is named [...]

Bankers, Bureaucrats and Backbiting- the 1MDB story

Article by Mita Chaturvedi, Deputy Editor In what is considered one of the world’s biggest financial scandals, billions of dollars meant to aid the development of a nation disappeared into the shadows of the global financial system. Some blame the primary benefactors who used the public fund as a private bank account, some blame the [...]

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Mediocrity Rewarded as Excellence

By Michael Curzon from the University of Birmingham In modern, uneducated Britain, one is rewarded for mediocrity. Schools, as a result, which have failed to boost children to reach their true educational potentials, are let off the hook. Instead, those responsible should be heavily scrutinised, or second-rate (even third-rate) learning will continue. A leak reported [...]

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FUN FACT: Reaganomics

Ronal Reagan, the 40th president of the United States of America inherited a problem that a lay person would find confounding; in the decade leading up to his presidency, the U.S economy was characterised by stagflation, a period of stagnation along with rising prices. Regan’s economic policy to tackle stagflation was coined “Reagonomics” and was [...]

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