Many of the working capital loans made to India's small entrepreneurs may be turning bad.

The basic tenet of laissez-faire capitalism is that government intervention in the economy should be directed to two related purposes. First, to ensure that in competitive markets the legislature and courts enforce voluntary contracts between competent parties in accordance with their terms. 

The RBA's growth and inflation forecasts and the Taylor Rule calls for just one more rate cut next year.

The Hoover Institution has initiated a fascinating Perspectives on Policy video series in which experienced experts give clear explanations of key policy issues assisted by the latest in animation technology. This is not the typical video of talking heads as you might expect. In this imaginative series tabletop cartoon figures join the experts, move around the screen, bend and twist to show emotions, and even wave at each other from time to time.