The Policy Monitor
There is an inherent danger of economic mismanagement in populism, and the ongoing Sri Lankan crisis proves the argument. Gotayba Rajapaksa’s presidency is marked by successive disastrous economic policy decisions ranging from tax cuts, freebies, and anti-modern policies such as the ban on chemical fertilizers, so on and so forth.
As much as it sounds like opportunism, a diligent intervention to shore up international food supplies is far from an opportunistic gambit from India’s perspective and, even farther away from war profiteering. The CMI benchmark for wheat prices has risen by >50% since the Russian invasion began with global wheat prices touching $14 a bushel (approximately 30 kg).
The IPR waiver would allow all countries to choose to neither grant nor enforce patents and other IPRs related to COVID-19 drugs, vaccines, diagnostics and other technologies for the duration of the pandemic until global herd immunity is achieved. This move harkens back 20 years to the HIV/AIDS epidemic, when affordable generic HIV drugs, made in countries where patents did not block production, began saving millions of people’s lives.
it is very important to understand that the true economic impacts of the lockdown and the pandemic will take time to unfold and reveal itself. But it’s certain that a decline in economic activity will contribute to the after-effects of the pandemic, and directly impact how our economy functions as a whole
This pandemic has exposed the inherent weaknesses of state functioning and questioned the very structure on which modern economies have been thriving.
The medium-term impact of the pandemic on international trade and the degree of efficacy of anti-free trade measures depends on the ability of the domestic producers and service providers to scale up operations
The health turned economic crisis will have a pivotal economic fallout, affecting the demand and supply chain. According to the IMF, we have already entered a recession that will be worse than 2009.
One can think of development aid as a ‘get-rich-quick-scheme’ or the exogenous stimulus that can bolster growth. However, I believe that this exogenous stimulus is impacted by endogenous factors like the quality of governance, transparency and political stability.
rom a shifting world order to a co-ordinated economic slowdown, the pandemic of Coronavirus Disease (or COVID-19) has gripped us in times of persisting glut of distrust. There is no one way to interpret the implications – both current and protracted from inaction today.
Economists love Uber. Or at least, it’s imperative that they do because it’s the closest you can get to taking the pure economic theory of textbooks and summoning it to real life. Uber managed to create an open market, governed strictly by the forces of demand and supply.