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Is it ethical to sell medicines in the same way as you sell soap ? A trivially put , but troubling question. Consider the arguments for and against. The problem in the medical industry is that the consumer, in most cases, is absolutely ignorant and is completely reliant on a doctor's opinion. But it is not the doctor who is paying - it is the consumer. At the time of consumption, the consumer is usually also not in a frame of mind to make rational , sensible choices. He is at his most vulnerable and therefore it can be argued that freedom of choice, a basic underpinning of capitalisim is, by definition, a contradiction in terms when it comes to a medical product The basics of the medical industry is predicated on a few facts New discoveries are extremely costly - be it a drug or a medical device. Most nations grant a patent for a new discovery which enables the inventor to enjoy a monopoly for a fairly long time Once the patent expires, the product is subject to the same pressures ...

In the blue corner - the gigantic gorllia, sometimes the most valuable company in the world. The inventor of the smartphone and the giant who believes that you can have any colour you want as long as it is black or white. Yes it makes a great product, but then behaves like a monopolist - sets prices , forces you and carriers, charges an absolute bomb and snubs India, launching its product whenever it likes, a few million years after launching in the US.  Meet Apple Inc. In the red corner, the largest telecom carrier in the world. Has a mere 750 million subscribers. Cares two hoots about anybody anywhere, so much so that it has a proprietary system for 3G which nobody else in the world uses. Tells every body in the telecom ecosystem to grovel on bended knees before even coming to visit. Has the almighty Chinese government at its back; so it can basically do whatever it wants. Meet China Mobile. In the middle is the Chinese consumer who is absolutely nuts. He and she own a zillion mobile...

There are some endangered species in  the business world. One is the Secretary - gone are the good old days when an Amazon or a pretty young thing (you had a choice) would guard the entrance to your cabin, get you tea, organise your wife's kitty party, bring a shorthand notebook and take dictation (remember that ?), and do such other extremely important activities. It was invariably a woman - gender equality activists please note - and the choice of an Amazon or the pretty young thing depended on whether your need was mothering , or ....... you get the drift ! But this post is not about secretaries ! It is about another , what I though was an endangered species,  the mail room kid. In the good old days, all offices had a big mailroom. Usually in the basement, this was a fairly large room into which all the incoming mail would come.  There was a massive pigeon hole contraption and the boys would expertly flick the mail into the relevant pigeon hole. This done they would collect all ...

The recent diplomatic spat between India and the US, should normally not be the subject matter of this blog - it having nothing to do with economics or business. However, since the nuclear weapon of Ramamritham has been invoked by India, it now falls into the realm of comment here, considering rhe world beating expertise this blog has on that venerable gentleman. In case you have not been following the events, the US arrested the deputy consul of India in New York on the grounds that she had underpaid her domestic maid (imported from India) and consequently committed "visa fraud". I don't wish to discuss the merits of the case here, although this pertained to an event in the past, is subjudice in an Indian court, and very likely debatable hinging on the obscure valuation of accommodation and food. But in true American government fashion, this was handled with extreme insensitivity - the lady was arrested as she was dropping her children to school , handcuffed in public, s...

I am likely to vote for Samoa Air as the best airline in the world. I have never flown the airline, nor have I been to Samoa. So why this sudden fancy ? Its because I just discovered that they charge passengers based on their weight ! I have traveled many a long mile on planes and can be considered a fair expert on the matter of air travel. But even I have failed to understand how airlines fix their fares. Nor can I be sure that I won't have to cough up more on reaching the airport, for check in bag fees (horrible American airlines) , place in the queue to board fee (Southwest), going to the loo fee (Ryan Air), quench thirst fee (Indian carriers)  whatever, whatever. If there is a logic to air fares, it has thus far escaped my comprehension. But I do have  a pet peeve when it comes to airfare. You see, the cost of flying an airplane is all down to weight - airlines will do anything to reduce the weight of the aircraft.  You would therefore expect that airlines would have some link...

If you can get 159 people to agree to anything, you must be a magician. Well, Roberto Azevêdo, did just that. The Brazilian is the Director General of the World Trade Organisation and today 159 countries agreed to a treaty. For years and years, nothing but bickering has the been the result - in Geneva, in Seattle, in Cancun, in Doha.  But at last in Bali today, something has been signed. Modest it may be, that will set common customs standards and ease the flow of goods through borders around the world. But to get all 159 countries to sign up (even one could scuttle any deal), is a major achievement. They almost didn't. The chief spoiler was India - at the end of the negotiations, virtually every country was pissed off with India. India was threatening to veto the deal on the issue of its programme to feed 75% of its population at subsidised rates (the unfortunate Right to Food Programme).  India's stand in most multilateral forums is to shout loudly, be a spoiler, pontificate,...

The sight of David Cameron, prostrating himself flat at the feet of the Chinese "emperors" is a beautiful reminder of the state of affairs of the British Empire. To understand the context, about a year or so ago, David Cameron had the temerity to meet with the Dalai Lama. Now anybody who even smiles at the Dalai Lama is a pariah  as far as the Chinese government is concerned. David Cameron committed the unpardonable sin of actually shaking His Holiness's hand. China promptly condemned UK to the doghouse - no meetings, no trade deals, no investments, etc etc. For one year, the naughty schoolboy was made to stand outside the class.  After a year of punishment, he has been allowed inside again. Promptly the Rt Hon'ble Prime Minister has taken a big delegation and gone straight to Beijing, to do Shashtang Namaskar (Indian way of prostrating at one's feet). It is as yet unclear as to whether he did " Abhivadiye " as well :) No less than 130 other luminaries ...