In 1979, Grenada witnessed the establishment of a socialist government by Maurice Bishop, which survived four years of US-engineered incursions.

 This was duly appreciated, with some 7, 000 US servicemen being designated as heroes and given decorations.

This government was overthrown in an internal power struggle among left-wing groups and, within three weeks of the Bishop’s ouster and assassination, Reagan launched Operation Urgent Fury against Grenada, claiming that the invasion was “forced on us by events that have no precedent in the eastern Caribbean.”

In the end Grenada, just like Cuba and Nicaragua, was no more than the Chomskian “threat of a good example” to other Third World countries in the region.

Around 2,000 US Marines “fought” for a week, destroying a mental hospital, killing 84 Cubans building an airstrip, and 400 Grenadians.

Risk-stemming from fluctuations in exchange rate loans hover constantly on the horizon of foreign investment.

In view of the higher risk, a firm contemplating foreign investment would naturally expect a higher rate of return.

A multinational company may be accused of ‘profiteering’ even when it may simply be following the sound financial practice of asking for a higher rate of return commensurate with risks characterizing the project.

Behaviour is just the evidence for mind, not its very nature.

The view that a mind can be reduced to patterns in behaviour is a hypothesis long abandoned.

Thus you can act as if you are in pain and not really be in pain.

The turning test, one may say, is seriously flawed.

Wonder is marvellous, but it is also cruel, cruel, cruel.

We have paid a terrible price for our education, such as it is.

Of course, wonder is costly because it is the antithesis of the anxiously worshipped security.

The Magian World View, in so far as it exists, has taken flight into science.

The credit rating agencies use legions of high trained analyst with access to top management.

Their meticulous reports giving ratings for corporate bonds are designed to give an accurate picture of the bonds riskiness and ultimately the probability of default.

Lately, the credit-rating agencies have struggled to keep up.

It seems a bond rating tells you even less about the price that investors are willing to pay.

In 1999 two-third of the debt rated triple B by standard and poor was priced within 20 basis points of the average bond with the same rating.

The impetus for change in cargo handling, after years of operational inefficiency has come from new private sector facilitators.

Other ports, both major and minor, have spurred into action.

And the government agrees this is having a cascading effect on the functioning of other ports.

Ignorance is the opposite of knowledge, i.e., want of knowledge.

Entrepreneurial knowledge is essentially intuitive.

Like some ancient priest-king, the entrepreneur ‘knows’ the future and leads his people.

To deal with uncertainty and ignorance economists have recognized the entrepreneur as possessing this non-rational form of knowledge.

Volkswagen shares trade at about nine times the 2002 estimated earnings, compared to BMW’s 19 and are the second cheapest in the sector.

Despite posting healthy profits, Volkswagen shares trade at a discount to peers due to bad reputation among investors.

The main problem with Volkswagen is the past.

A disastrous capital hike, an expensive foray into truck business and uncertainty about the reason for a share buyback have in recent years left inves

Many investors have been disappointed and frightened away.

A good budget is one which makes a sincere attempt to change the policy environment.

Government finances are terminally impaired with uncontrolled fiscal deficits.

There are big gaps in perception and capability of managers.

Industry too is not ready to deliver growth, should even the government pursue the right policies.

The current reforms pace is too slow.

Its cargo consisted of 38 sacks of spices and Magellan himself had been hacked to pieces on the beach of Mactan in the Phillipines

So contrary to popular belief it was the crew of the Victoria who were the first men to have sailed around the globe

In September 1522 Victoria , the sole survivor of the Armada, limped into the Spanish port San Lucar , manned by a skeleton crew of 15, so weak they could not talk

In September 1519 the Armada de Molucca of five ships and 250 sailors has set out from San lucar de Barrameda under the command of Fernando de Magellan