Tag: Economic history

In 1979, a Planning Commission Task Force, led by Y.K. Alagh, officially established a calorie norm for poverty estimation in India, setting the requirement for rural areas at 2400 calories per capita per day. This metric became the foundation for defining the poverty line, though it was later replaced by a more comprehensive consumption expenditure-based methodology.

No country in the world currently operates on a gold standard, having abandoned it for more flexible fiat systems throughout the 20th century. The enduring question remains: is the gold standard good as a foundation for a modern economy, or are its historical flaws too significant to overcome?

The gold standard provided relative long-term price stability during its peak between 1871 and 1914, but its inherent inflexibility ultimately contributed to its downfall. This historical evidence highlights the complex debate surrounding this monetary system and raises the question: Is the gold standard a good thing for modern economies?

Before the age of fast food and processed meals, liver and onions was a nutritional powerhouse, providing an economical and wholesome source of sustenance for countless families across generations. This humble dish reveals much about past culinary habits, driven by economic necessity, cultural tradition, and a deep appreciation for nutrient-dense, whole foods.

Once the world's largest sugar producer, Cuba’s recent harvests have been the worst in over a century, with the island failing to produce enough sugar for its own domestic needs. This stunning reversal begs the question: why is there no sugar in Cuba, a nation so famously linked to the commodity?