Opinions Column

The Economic Facet of Coronavirus

It has become clear that the epidemic is having undesirable consequences for the global economy. The pandemic is affecting a broad ribbon of international economic and trade activities, from tourism to medical supplies. To name a few, the effects to curtail social interaction to contain the spread of the virus is disrupting the lives of people globally, adding to economic costs and gradually bringing the economy of every nation to a standstill. It is aptly said that this pandemic has brought forth a debate of lives versus livelihoods…

Human Motivations in Economics

Classical Economics was the fascinating school that originated in the eighteenth century and extended into the early twentieth century. The evergreen political economists here are Adam Smith, David Ricardo, John Stuart Mill and Alfred Marshall. In this economics, you acting in your own self-interest would, through markets, promote the general welfare of society. This was unfortunately vulgarized to mean that if you only behave with self-interest, you will do what is best for the entire society. Actually, this Adam Smith’s concept of ‘invisible hand’ was more complex…

Locked in Wicked Problems

Wicked problems are complex problems which have no simple, complete or trial-and-error solutions. They defy any ‘true-or-false’ solutions because they are commonly symptoms of other complex problems. They are too devious for us to tame, so to say. They are not problems for just experts to solve through technological innovations because barriers to effective solutions are largely the socio-cultural contexts of humans with wide range of values and priorities which are difficult to change…

Regrets, Lies and Truths in Economics

The “overwhelming majority of the country’s working people are employed in insecure, sweated work. India’s labour market differs starkly from that of the advanced capitalist countries. There is not a clear dividing line between employment and unemployment for most of the workforce, with much of the workforce under-employed, and poverty afflicting even those officially classified as employed. There is fairly rigid duality between sectors and within sectors, in terms of productivity and wages.”

Everyone’s Economics

A country’s competitiveness determines whether globalization is helpful or harmful. Workers and poor people get only as much from the economy as they are able to demand, fight for, and win. Demanding a fairer deal from the system, and building the organizational and political power to back-up that demand, is the only way to redivide the pie. Read more here:

Economic Impact of COVID-19 (I)

Part I: The Stock Market

The pandemic is coming for the global economy even though the stock market, for now, indicates otherwise. The Coronavirus pandemic has resulted in more than 19,96,600 infections and more than 1,27,500 deaths across the globe. It is easy to see that both comparable bear markets in the past have had marginal recoveries that were false and were still followed by severe losses… Read more here:

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