The Policy Monitor
A recent study by LSE found that 52% of urban workers went without work or pay and received no financial assistance for over a month. Bihar’s emergency assistance programme has been cited as a rare example of sub-national government’s efforts to identify, onboard and disburse payments to the migrants during the ongoing pandemic.
India’s institutional policy has to complement its industrial policy and not the other way round
Any enforcement of mutual exchange becomes exploitative even within free markets if over-riding socio-economic inequalities are ignored and institutions are imposed from the top.
In the presence of limited economic resources for public allocation, human rights should be a policy imperative for the organization of economic system itself
Wage determination, therefore, becomes less and less a function of demand and supply and more and more a function of class power. If we take the regular demand-supply framework into consideration, we realise that the present pandemic not only causes a negative shock on the aggregate demand levels but also the aggregate supply levels