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What is the full form of UPSC? All you need to know
indiatoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatoday.in Daily Mail and Mail on Sunday newspapers.
Can US reclaim leadership in critical products? - The Hindu BusinessLine
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Friedman doctrine’s unintended consequence
Business No longer about profits - istock.com×
The singular pursuit of profit as a model of development has hollowed out US’ productive capacity to China’s benefit
Businesses should have no further responsibility than accumulating profit. Introduced in 1970, this idea by Milton Friedman has dramatically influenced American and the world economy in the past 50 years. It has powered significant global outcomes like off-shoring of production, free trade and supported China’s rise.
Big businesses loved the idea that the CEO’s sole task should be to enrich a firm’s shareholders and the corporate should have no social responsibility. As long as they pay taxes, they may ignore the interests of other stakeholders like workers, customers, communities, and the environment.
Trade remedy must be user industry sensitive
Objective analysis is paramount - greenleaf123×
Besides technical determinations, imposition of anti-dumping duties must also pass the public interest test In recent months, the Department of Revenue (DoR) has rejected as many as 20 recommendations of the Directorate-General of Trade Remedies (DGTR) to impose provisional or definitive anti-dumping duties, or to extend such duties, without giving any reason. Previously, too, a number of measures have been withdrawn or suspended
suo motu, through Budget announcements of 2020 and 2021, without the recommendation of the DGTR, apparently to protect the interests of the downstream industry.
These unusual actions by the DoR brings into sharp focus the concept of ‘user/public interest’ debates in trade remedy investigations. Indian industry has been raising the issue, saying that a section of large and medium industries has been the perpetual beneficiaries at the cost of a larg
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