What approach should we adopt to stimulate the economy after Covid 19?

Interloperrsaid

@Neyawn On political front, his idea I think was more of a leftist due to his ideology of ‘Doctrine of Trusteeship’ and Swaraj (on the basis of which he supported anarchy, though interpreted differently), spiritualisation of politics

But on social front, he was more of a rightist due to support to institutionalisation of varna system.

Gandhi’s way of thinking have distinct identity & is thus called Gandhism to represent his world view.

Interloperrsaid

@Neyawn On political front, his idea I think was more of a leftist due to his ideology of ‘Doctrine of Trusteeship’ and Swaraj (on the basis of which he supported anarchy, though interpreted differently), spiritualisation of politics

But on social front, he was more of a rightist due to support to institutionalisation of varna system.

Gandhi’s way of thinking have distinct identity & is thus called Gandhism to represent his world view.

Neyawnsaid

Interloperrsaid

@Neyawn On political front, his idea I think was more of a leftist due to his ideology of ‘Doctrine of Trusteeship’ and Swaraj (on the basis of which he supported anarchy, though interpreted differently), spiritualisation of politics

But on social front, he was more of a rightist due to support to institutionalisation of varna system.

Gandhi’s way of thinking have distinct identity & is thus called Gandhism to represent his world view.

Nope. In Gandhian literature, the first thing you may read is that there is no -ism in Gandhi !

Neyawnsaid

Interloperrsaid

@Neyawn On political front, his idea I think was more of a leftist due to his ideology of ‘Doctrine of Trusteeship’ and Swaraj (on the basis of which he supported anarchy, though interpreted differently), spiritualisation of politics

But on social front, he was more of a rightist due to support to institutionalisation of varna system.

Gandhi’s way of thinking have distinct identity & is thus called Gandhism to represent his world view.

Nope. In Gandhian literature, the first thing you may read is that there is no -ism in Gandhi !

Interloperrsaid

@Neyawn On political front, his idea I think was more of a leftist due to his ideology of ‘Doctrine of Trusteeship’ and Swaraj (on the basis of which he supported anarchy, though interpreted differently), spiritualisation of politics

But on social front, he was more of a rightist due to support to institutionalisation of varna system.

Gandhi’s way of thinking have distinct identity & is thus called Gandhism to represent his world view.

Agogsaid

@MarcusA But Marxists visualise temporary state(though 1 can decipher proletariat dicatorship 2 culminate into state itself) versus Gandhi permament but weak no??

MarcusAsaid

@Neyawn difficult to label him; he was more right-winger than Savarkar at the same time he was more leftist than Marx.

Leftist=stateless society( absolute anarchist)- critical of modernisation/capitalism( pitting of machines over man)-communisim(people led resources over state led)- unto this last- panchayat system over democracy

Rightist= cow protection-supported chaturvarna system-hindi promotion( homogenization)-not critical of religion unlike leftist, rather championed Hinduism by reforming its ills ( poona pact;harijan campaign;untouchability)

pizzzasaid

Question: What approach should we adopt to stimulate the economy after Covid 19?

My perspective: 

Most of us begin to imagine the numbers, sectors and players when we are asked this question. That's problem solving at surface level. We need to dissect this problem thoroughly as it will determine not just the length of our pockets but also the quality of our lives, lifestyle and choices. 

Let us make few things clear before even we ponder upon this question:

1. We cannot solve this problem "after" covid19, we have to solve this problem "with" covid19. The virus is here to stay for years to follow in the future. The contact ratio (q) is very low for this virus and almost the whole population is susceptible to infections over the time. We will have to move forward considering the virus to be a part of our lives and also the lesson that this virus gave us in the last few months. 

2. The demand and supply conundrum seems like a tiger but in reality is just a paper tiger. It hardly matters, because the demand and supply will eventually be back to business as people have to earn and live at the end of the day. It will happen. The real focus should be on how fast can we "afford" to grow considering the significant changes that will happen in our lives in the following times, How fast can we travel so that we don't crumble to the shocks and be on a stable trajectory? We cannot afford to fall, gather and run with every obstacle in the future. We need a steady marathon and the foresight to dodge the uncertain times.

3. Another question. What should be our direction? The current sentiment is de-globalization and self-reliance through domestic economic activity. Let's go back to 1991 and see what all did we get to have in our lives due to the LPG reforms. From technology to quality, From Education to Emigration, From choices to competition, we reaped a lot benefits from that. Should we lose out on that? Should we give our domestic economy that bandwidth to be callous about quality and prices in the name of self-reliance? Look at china, infamous for it's heavy domestic production albeit with substandard quality. 

4. The most important aspect for any economy is the development of that economy. Covid19 presents a unique opportunity for our economy to bring back the much needed focus on this aspect to insure and secure our country from unforeseen threats that can catch us off-guard like Covid19. The need of the hour is setting up everything right in the social infrastructure so that we are fully prepared to rage against the unknown tides and conquer the game of milestones. 

Now that we have a clear idea about the things that can affect us, let's get back our focus on answering this question. 

1. About the demand and supply gap. It's a temporary issue. As soon as there is ray of confidence, people will demand for things and people will also supply things. The problem here is that of confidence. How do we make people confident enough for this to happen? Through the same old strategies.

(a)Through measures that will foster ease of business in the world with Covid19. Relaxation and simplification of regulations and procedures to better adopt to the Covid19 world.

(b)Through fiscal stimulus and relief packages for those sectors that are deeply affected by covid19. 

(c)Through labour intensive job creation in avenues that have suddenly gained demand in the Covid19 world. PPE, Sanitizers, Hygiene products, door to door delivery, push-carts based sales to reduce crowding in markets etc for day to day activities, Corona safe day to day products and much more.

(d)Through reforms like privatization and disinvestment so that the government can focus maximum on setting up the social infrastructure right. It's only when people get that confidence that we have enough capacity and capability to deal with any future pandemic or any other catastrophe, we can see a lot of investments coming into the market from both foreign and domestic side. Investors need that confidence that things won't go so bad. Also, give the investors a bit more space through liberalizing investment norms.

2. About the direction of economy: Being self-reliant is very good, but at the same time we shouldn't over-protect our domestic economy so that it's becomes lethargic and does the opposite of what we expected. It's important for India to still keep the global gates open so that there's a healthy competitive pressure on the domestic side. India should send a signal to the world that globalization can still exist in the Covid19 world. Countries will look up to our country with a lot of respect in the long-term for taking this stance in difficult times. 

3. The time is ripe for the government to get people out of poverty and give everyone of us top-notch medical and educational infrastructure. If this is not solved, we will keep falling and be at the mercy of many more pandemics and disasters. Yes, it will take a lot of deficit financing, a lot of tax burden on us and future generations, but it's worth that pain as the gain will be multiple times more in long term. The Covid19 is an eerie mirror that is showing us all the deficiencies in our system. The garbage in our medical infrastructure, the plight of migrant labourers, the wide-spread poverty and illiteracy about rationality. This needs to be rectified with the highest priority so that India stands out from the rest as the flag-bearer of hope. 

4. Covid19 World will open up a lot of opportunities for creativity/innovation in various sectors. This can be one-stop solution for India's unemployment nemesis for decades to come. Research and development should be carried out with fast pace so that India comes up with unique solutions to deal with Covid19 in various aspects of life. This can provide a lot of employment if we are first to arrive at solutions. 

The road ahead is uncertain, The times ahead is unknown. But the hope that has kept the mankind going forward has been alive for eons. The creativity of humans will outlive the nuisance of a silly virus. Let's hope for the best. :)