|
Casino capitalism refers to an economic system where financial markets operate like casinos, with high risks and speculative behaviors dominating the economy. In India, this concept can be observed in the context of local products, such as the rapid growth of the mobile payment industry. For instance, platforms like Paytm and PhonePe have seen massive investments and speculative trading, mirroring casino-like dynamics. These products, while innovative, often face volatility due to market fluctuations and regulatory changes, highlighting the unstable nature of casino capitalism in emerging economies like India. |
