The Economics of Happiness
The streets of Jayanagar, a residential area in Bengaluru, are strewn with spring flowers. Yellow copper pods, lilac crape myrtles, pink-and-white honges and orange gulmohurs blaze overhead and underfoot; vitality and senescence mirroring each other. The normally hard surfaces – kerb, pavement, road and concrete – are softened by fallen petals and the duff of […]
A week before the announcement of the Janata [public] Curfew slated for March 22, 2020, I spoke with a 43-year-old close relative in her village in Leh, Ladakh, by phone from Delhi. Around that time, the news of rising infections from the novel coronavirus coming in from China, Italy and Iran were ominous. Ladakh had […]
The coronavirus (covid-19) has caused upheaval across the world, deaths of the most vulnerable, closed borders, financial market crashes, curfews and controls on group gatherings, and many more devastating effects. Despite observations that pollution and emissions have reduced, the sudden, un-planned, and chaotic downscaling of social and economic activity due to covid-19 is categorically not […]
The lead article in a recent edition of my hometown newspaper highlighted the efforts of a local teen and a sewing business to create 1,000 masks for area hospitals. While this is a wonderful development, it shouldn’t have come to this. The urgent and growing demand for N95 masks and other medical supplies for treating […]
What an astonishing slap in humanity’s face, this coronavirus. But the silver lining is that it is also a rude wake up call. I say ‘silver lining’, for at the centre of this is a massive humanitarian crisis of illnesses and deaths – and for working classes who cannot switch to ‘online’ work, whose workplaces […]
Let’s be clear: there is no solid evidence that the origin of the SARS-CoV-2 virus, which is the cause of the current Covid-19 disease pandemic, is an open seafood market in Wuhan that also trades in domestic and wild animals. All that we know is that several early cases of people diagnosed with Covid-19 either […]
This past weekend, a bright Georgetown undergraduate asked me how I squared my passion for localization with the theory of comparative advantage. For economics newbies, he was referring to David Ricardo’s argument that every community should find one product to specialize in and trade for everything else. I gave my usual response that the theory […]
The Covid 19 pandemic is the second major crisis of globalization in a decade. The first was the global financial crisis of 2008-2009, from which the global economy took years to reach a semblance of recovery. We did not learn our lessons from the first, and this is perhaps why the impact of the second […]
The specter of plague haunts our world, and it brings with it not only the ghouls of disease and death but vast economic and social uncertainty of a sort only the most elderly among us remembers (the Great Depression and World War II). My father is 90 and when I called him a child of […]
The human tragedy of the coronavirus is immense. Thousands have died, hundreds of thousands have been infected globally, and millions more have been affected. Whilst infectious disease has always been a part of the human experience, the expansion of industrial civilization has inexorably amplified the risk of new diseases. Uncontrolled industrial expansion also dangerously heats […]
