The crisis is bringing out the worst in us: Curtailment of labour laws, labour being on the line of fire in every decision we take, corruption in n-95 masks, complete lack of foresight and compassion in decision making, rampant profiteering by brands… greed is so normalised now that business and political leaders don’t even have the slightest discomfort in throwing its weakest under the bus, if it means saving their top-lines from eroding a bit.
The realist in me says that we are fucked, we are heading towards dark ages – walls will close, inequality will rise, climate will create new refugees and in a decade we will have mass civil unrests across the world.
I don’t want that to happen. So I want to think of how we can rescue ourselves from this situation? I see this event has as an opportunity to do revolutionary pivots.
Here’s a few principles that i think would serve us well…
- Systemising Wealth Transfers
The situation can get dire. we need to urgently institute wealth transfers. from cities to hinterlands, from top 0.1% to bottom 70%, from money market to actual economy.
The elite has rigged the economy, the laws, the legislative in its favour. As long as that remains, we are doomed. Violent revolutions are quite likely. Alternatively the p2p economies which exclude the existing system players is also a revolutionary possibility. Both seem far-fetched. Consider the fact that a recent document by IRS officers CONSIDERING increasing wealth tax, just considering, were laid-off. That’s the power of elites.
Well, we are doomed as long as elites continue to influence our systems.
We must innovate to incentivise wealth transfer. Either through taxes, moral campaigns, decoupling from global economy etc.,
- New view of growth: Increasing Productivity, decreasing consumption
Growth can come from productivity and consumption. it’s easier to stimulate consumption among the elite, harder to educate, train, build infrastructure for increasing productivity. India will continue to suffer unless we pivot to productivity gains to grow.
- New Eco-conscious Economies
We are heading headlong into a future ravaged with climate change related uncertainties. India will be uninhabitable in another 50 years. We have to build economic exchanges, market places that helps us survive. Economy needn’t be always extractive.
- Breaks on globalisation
Globalisation will slow down and even reverse. Global mechanisms of co-operation are breaking. Money flows but people can’t. Much discontent.
New post-covid themes – self-sufficiency, no more bottomless cheap capital (a la amazon), decentralisation.
- Platform as commons
Here I have written about this in more details.
we need to build platforms that belong to people, that empower their exchanges, that are not driven with only profit motive.