25 September, 2020

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A Lesson In Economics From Covid-19

By Ameer Ali

Dr. Ameer Ali

The social dislocation, economic disruption and financial losses pushing towards an inevitable recession if not depression, and the health crisis are the combined effects of a totally unexpected pandemic caused by Covid-19. More than the severity of the infection, it is the speed of its spread that is causing panic and despair among world leaders. Infection is growing exponentially, and the virus, like global warming and other natural calamities is again compelling humanity to think as one family and act together to seek remedies. Nature, unlike humans and its institutions, does not discriminate between the rich and poor, old and young, men and women, elite and the masses, and so on. In short, if there is one golden lesson that Coronavirus is teaching us, it is in the field of economics, and in that discipline, it is particularly forcing the so called civilized world, to reconsider its growth path, which is proving to be crooked and suicidal.       

I have already opened this discussion in an earlier piece (Covid-19, Globalization and Glocalization, Colombo Telegraph, 16 March 2020), but I want to go a bit deeper into it now. Modern economies, at least since the onset of the highly acclaimed but now debunked phenomenon of globalization, are built primarily on three pillars namely, markets, capital and technology. The last of the three has almost replaced labour, which until then not only played a crucial role in promoting economic growth, but also counterbalanced and controlled the rapaciousness of capital. But the driving force behind the combined operation of all three pillars is human greed, which is an embedded evil in human soul.        

Greed looks at material life as a zero-sum game.  It is this realisation that prompted saints and savants and prophets and philosophers of past and present, to teach and preach moral and ethical values at least to mellow the ferocity of injustice that greed can generate in human conditions. None of the world religions, including Calvinist Protestantism that has the closest link with capitalism, according to Weber, did encourage greed to dictate material living. That situation changed radically with the collapse of Keynesian economics in the capitalist, and Marxian economics in the Communist world. These two branches of the same discipline constructed their economic designs to prevent greed running riot.    

The 1980s marked the beginning of a new and tragic era in the economic life of humanity. A new breed of economists called monetarists and supply siders began tutoring captains of major political power centres of the world that unbridled markets in the hands of Schumpeterian entrepreneurs, aided by more and better technology would ultimately bring humanity to the Valhalla. With technology going through a new and cataclysmic wave of macro and micro inventions, free markets and capital integrated economies on an unprecedented scale and humanity entered the era of globalization. It was fashionably called a New Economic Order. In this NEO, old constraints on markets and capital favoured in different degrees by Keynesians, Marxists and socialist thinkers were considered primitive and thrown out of the window, and greed under the guise of entrepreneurship took centre stage in economic activities. 

Economic growth at any cost became the hallmark of government policy making, and that growth was measured in terms of the almighty US dollar, which quantified the value of anything that went through the market and fetched a price. The global economic machine was oiled not by production of goods and services but by finances structured on baseless derivatives. For the last forty years or so the world was almost universally infected with the virus of greed and greed induced economic growth. The human victims of this new virus ran into millions if not billions, depending on who did the counting and how. And to take care of those victims, even charity was privatised. In any case, private philanthropy could not keep pace with systemic poverty. 

The agony and anger of human victims were managed from time to time partly by throwing a few crumbs from masters’ tables, and partly through smooth talking and empty promises by hired preachers.  All religions have historically been hired by ruling orders to participate in this camouflage by promising heavenly rewards to the meek and the poor in return for putting up with sufferings in this world. However, there is one victim that refuses to put up with this dollar managed drama and greed propelled growth, and that victim is the ENVIRONMENT. For several decades, at least from late 1960s, scientists were warning world leaders that the type of economic growth being pursued was environmentally unsustainable. The response to that warning was callous and put too much hope on technology. When the issue of global warming was gathering momentum from the beginning of this century, once again the rich countries led by the US ignored the clamour and went on doing business as usual. Covid-19 is the latest of environment’s weapons to fight against the ruling NEO.  

Covid-19 is a virus that lay buried in nature for millennia until modern man with his reckless economic behaviour brought it to the open.  That virus is now fighting against the human virus of economic growth. In this fight, the latter is collapsing like a pack of cards. Economies that were built on the edifice of free markets, capital and technology, and oiled by unproductive and fictitious finances are running for cover to save themselves. An impending global recession if not depression is becoming reality by the day. Trillions of dollars from nowhere are hurriedly being poured into the economy by governments to resuscitate struggling industries, reactivate small businesses that had gone into hibernation, and soften sufferings of families. 

Yet, like previous recessions and depressions, there is always a silver line at the end of dark clouds, and light at the end of the tunnel. When that point is reached, nations cannot afford to go back to the old model that brought the disaster. The planet does not belong only to humans, but they have a responsibility to manage the planet, because humans are the best of creations. Nature should be managed and not conquered, as taught to children in our schools. Nature is a partner and not an enemy of civilization. Previous civilizations understood this partnership and designed their material life without wantonly destroying nature. Civilizations prospered and nature continued to remain resourceful and fertile while rewarding those civilizations with prosperity and happiness. In contrast, modern civilization is qualitatively different and destructively callous towards the environment. The type of economic growth under robotic capitalism is not sustainable. 

For instance, why spend precious resources on nuclear and biological warfare in the name of security and economic growth when peoples’ basic needs remain unsatisfied? Is it not criminal to destroy surplus food products to keep the market price profitable for corporations, when hundreds of millions of children and adults starve? Why do the so called super powers go and bomb other countries, plunder their resources, impoverish the people, make them homeless and migratory, create the terrorists and then blame terrorism for the initial bombing? Because, in all this there is profit to be made, and that profit increase the all-important GDP and economic growth. These are some of the blatant injustices perpetrated by free market capitalism. 

Let those secretive institutions such as the IMF, WB and WTO, headed by a team of unelected leaders, who are sumptuously rewarded by corporate conglomerates for promoting this self-destructive growth model, learn the economic lesson from Covid-19 and revise their policies. There need to be a U-turn from greed driven economic growth. Otherwise, the next attack from the environment would be even more deadly. 

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  • 10
    1

    Dr. Ameer Ali,

    “Let those secretive institutions such as the IMF, WB and WTO, headed by a team of unelected leaders, who are sumptuously rewarded by corporate conglomerates for promoting this self-destructive growth model, learn the economic lesson from Covid-19 and revise their policies. There need to be a U-turn from greed driven economic growth. Otherwise, the next attack from the environment would be even more deadly. “

    Thanks for your article. Yes, greed, excessive greed is the cause of many problems.

    Throughout history, the greed of the empires to expand, caused untold agony and transformed society.

    As far as Covid-19 is concerned, it simply does not care about human greed, human beliefs, races, economic systems, after life, Nirvana, Nibbana, Heaven etc. It is simply evolution and adaptation and natural selection. The virus that had been infecting the bats, made the jump to the humans , and mutated. The weapon it uses is the spike protein, to enter the cells in the respiratory system, through the receptor, to inject the viral RNA, and take over the cell machinery, by hijacking, controlling the DNA.

    Empires, colonialists ,have done the same take overs in human history. Humans have taken over the environment as well.

    The resultant is a new environment in which some of the viral DNA gets incorporated to the human genome.This is evolution.
    There are over 105 viruses that have infected humans. Then there are viruses that infect plants and bacteria (phages). This is Evolution and natural selection. Some call it opportunity. Some call it greed. The viral RNA simply wants to reproduce, just like a flower, except that the virus may kill the bacteria, while naturally immunizing the host.

    • 5
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      Dr.Ameer Ali,

      Correction:

      The virus may hill the host.
      Yes the phases kill the bacteria.

      • 5
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        Correction,

        Kill not hill,

        Phages, not phases.

        • 1
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          Arl has had time to give three ucks to Banda while you were typing this trash!

          • 2
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            Punda Ya.. – If the cap suits you, put it on!

        • 2
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          Arl is sucking Banda to glory!!!

    • 5
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      “Yes, greed, excessive greed is the cause of many problems.”

      Who thinks Covid-19 is going to reform the people, countries? Since last few days Trump might be busy thinking how to recover $2 Trillion Coronavirus Relief, even before spending it. So, US will try to sell more arms to recover that and rest of the world has to be more careful once coronavirus fight is over.

    • 3
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      Those who voted for Bps and made them leaders should be subjected to indian style punishments.
      :
      https://www.youtube.com/watch?v=VdDGUvLoJvI

      69 lacks of people are now made born fools.
      :
      Srilankens are no better to INDIANs… medieval punishments are back to control india…. see the civlization boomerang.. in neigbouring india.

    • 2
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      Amarasiri,
      What went wrong with your friends with high IQ?
      Prince Charles and Boris Jonson are down with Covid-19.

      • 2
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        Eagle Confused Eye,

        Have you heard about the Gaussian distribution and the standard deviation? Even though the mean IQ of UK is 100, there are still many with IQ’s well below 100, and still many with IQ’s well above 100. The Darwinian Natural selection will take care of those with lower IQ’s, and COVID-19 is simply one of those evolutionary processes. The same with Europe, USA and many other countries.

        Sri Lanka, mean IQ 79, India, mean IQ 81, Iran mean IQ 84, have too many in the lower IQ category. It is the responsibility of the state to protect those low IQ imbeciles from their ignorance.

        China, South Korea, Taiwan and Singapore, mean IQ 106-108, were able to control Covid-19 better.

        Prostrating to monks, tying Pirith Noola, listening to priests and Ulama, and congregating with other imbeciles will not help. Stay apart, drink lots of warm liquids, have Vit D, Vit C and Zinc, and inhaling steam, to keep your respiratory tracks warm can make it difficult for the virus to infect, and may give valuable time for the immune system to react against the virus.

        Prostration to monks, politicians and other imbeciles is simply pissing in the wind.

        • 3
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          Brother Amarasiri,
          Not only prostrating so called monks ( or skin heads in red robes)but also they prostrate Rajapakshes and the like minded criminals.
          :
          I think only way out would be to treat them with MEDIEVAL punishments that have now been excercised by neigbouring India.
          I saw even a woman wearing and wrapped around by saree was asked to jump few times being in the mood cross-touching the own ears…Lanken over 69 lacks of people should be trained to the very same manner, since they would never see it right.:: Even SKIN heads in temples should not be given exemptions.

          • 3
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            Simon De Silva,

            As of now, March 27, one dead from Covid-29. On March 17, President Gon Gotabaya Rajapaksa said that we have defeated the enemy and there is no problem. Gon Donald Trumph said the same thing in January and February. Today, March 27, USA has 111,000 cases and 1,700 deaths.

            Better late than never. Let’s hope that the warm weather works against the virus.

            Looks like COVID-19 was news to them, then, and not now.

            • 3
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              Yes, Brother AMARASIRI,
              Rajapakshes IQ levels are beyond all low levels.
              They may feel if their efforts led the country be free from long held CIVIL war, why cant they control VIRAL attacks.
              I wonder if they are clear about the very danger before us.
              Lanken numbers could go up exponentially… if they would not follow the instructions being given to them.
              If the bell curve would not be flattened – with lower ICU facilities, srilankens will have to rely only on divine forces.
              Just imagine, with over 1.5 mio annual tourist arrivals, Nepal as a far poor nation could control it yet, why srilankens failed ?
              The mistake lies on BP Rajakshes.

              • 3
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                Comrade Simon De Silva,

                Yes. The invisible enemy, that is very egalitarian, is making a fool of the President Gon Gotabaya Rajapaksa, and their cronies, who did not test or control the Chinese arrivals, was loose in checking the foreign arrivals, let the schoolboys have the cricket match, let the monks have the pilgrimage to the butterfly mountain, and the faithful have the Katchuteevu festival with 3,000 from India. And 7,000 from Sri Lanka for a virus exchange. Today both Sri Lanka and India have curfews.

                Let’s hope that the current lockdowns, even though late, works. Better late than never.

                The egalitarian COVID-19 does not prostrate to the monks, Priests, Ulama, or the politicians, small or large,

      • 2
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        Eagle Confused Eye,

        Given below is how high mean IQ Taiwan managed to control COVID-19. The Europeans and the Americans should have stuck their egos in their asses and followed the Taiwanese.

        http://www.dailymirror.lk/opinion/Is-Taiwans-impressive-response-to-COVID-19-possible-in-Sri-Lanka/172-185720

        Sri Lanka, should follow the Taiwanese, even though the mean IQ is 79, and not prostrate to monks,

        The Taiwanese did not prostrate to monks.

        • 2
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          Bro Amarasiri,
          .
          where there is DISIPLINE and CIVILIZED cultures, they can often manage to keep it controll. of course with exception being heard from Italy. But their mountaineous numbers of deaths, are connected with them being older adults. Italy is the second largest community with elderly people, just behind the Japanese.
          And they LOMBADI region, they are rich but thickly populated. Our people go their as domestic servants or the like unskilled jobs. There are no educated srilankens that are hired by Italians. Latter is also one of the real reasons those sriilankens got ended up in quarantining in SL, to have behaved so wild. There are also places called, punchi wennappuwa in Italy. My Italian colleagues made me clear, that those srilanken people eat some plant leaves and spit on every where in that area where they live in Italy. This was about beetle eaters. I was ashamed, but this is the real mirror image of many srilankens living in Italy.
          May be their second generations may have achieved a lot as is the case with tamil second generations. But we should not forget that our people were hired by Italians for odd jobs only.

          • 2
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            March,

            Higher deaths are due to an aging population, but how did they get infected in the first place? Lack of controls, testing and a population that did not take it seriously. See what the PM said initially, no problem, just like Gon Gotabaya and Gon Donald.

            The Koreans, Taiwanese and the Singaporeans did better. Their mean IQ is between 106-108, 6 to 8 points higher than the Europeans and Americans.

            • 2
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              Bro Amarasiri,
              .
              I live in Germany and I know how Italians behave. They are not serious as the Germans, Dutch, French or English. THey take the life not that serious, even in Lombadi region.
              That led them to end up being caught by quick spread within shorter period of time. As said above, the elderly community was the one caught by infection at the begining. Had they been that vigilent as the Koreans and the chinese, that would not have spread the way it has already. Even visiting chinese specialist warned them, not being alert enough… i mean the manner the average people behave, irrespective rapidly increasing of the infected and the dead.
              And they in Milano, Rome and other big cities, they live thickly populated. I ve visited several hospitals in each of the mentioned cities in Italy.
              Lombadi is one of the rich province in that country. In southern part of italy is not filled with affordable households.. and that is why they are mostly scattered across europe.
              I think from today on, German health ministry have helped hand ot italy knowing the situation with COVID 19 worsening there. Most of them are elderly patients and some of them would be transported to Germany ‘s Cologne and the like cities by providing them with anticipated ICU facilities. These are the latest i got to know from German local news today.

      • 4
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        Eagle shit,
        Dont to know people with high IQ are voiceless and powerless these days because the low IQ morons are the majority and they elect the murders, rapists, thugs, and corrupted criminals as their leaders to lead this paradise gone as hell.

    • 2
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      Dear Bro Amarasiri,
      .
      Thanks to COVID-19, now entire world is well aware of the real statistics about srilankan.
      :
      Over 4 millions of the island population are under poverty levels.
      :
      Sofar they deny these numbers, since BPs made IMF clear that we are a mid income earning nation:
      .
      Now with CURFEws being imposed, there are a large portion of people … are said to be having no food to eat, not because of the barriers, but not having their daily wages.
      It is right that Mr Ranil Wikramasinghe revealed it several time,s that over 40% of our people are under poverty levels.

      • 1
        1

        Leelagemalli,

        Fiddlers!.

        The Corona virus is going around them.

        President Donald Trump was fiddling on March 8, 2020.

        President Gotabaya Rajapsksa was fiddling, March 17, 2020

        https://theweek.com/speedreads-amp/900761/trump-retweets-white-house-photo-fiddling-says-doesnt-know-what-means

        Trump retweets White House photo of him fiddling, says he doesn’t know ‘what this means’

        March 8, 2020

        If anybody else had tweeted a doctored photo of President Trump playing the fiddle as the new coronavirus spreads throughout the U.S. and wreaks havoc on the U.S. and global economies, the White House would probably protest vociferously. When White House social media director Dan Scavino tweeted out such a photo, saying Trump’s next tune is “Nothing can stop what’s coming,” though, Trump retweeted it with the message: “Who knows what this means, but it sounds good to me!'”

        Trumph was fiddling while the Corona virus was spreading- US House Speaker Nansi Polosi,

  • 9
    6

    Where is this yellow robs goons of monks as Rathana, Ghanasara,Saddhatossa,Tatooman Suddatta and Alla Gunawansa to chant and stop that so called song of pirith and white Band. If they are true patriots to the people who trust them, come forwrd.

    • 0
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      Milton Silva. You are typical DUMB. Open your eyes and see. You live like a Frog in the well.

    • 2
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      Athana Methana Natana Rathana (AMNR Virus 19) is now on his efforts searching for a man or a woman to be married soon. That perhaps would have been right steps leaving us the nation giving us a break.
      :
      This particular MAN in Robes, has destroyed the nation, whnever his thoughtsand minds were not rightly recognized by the masses. I think he should be hung by his balls. These men are wrapped around by SO CALLED red robes, but they themselves are hypocrites by every means.

    • 0
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      Milton,
      the god s sake, let them be marginalized. I stopped myself giving alms themanymore. even if some keep thinking so long they wear SIVURU we have to.. I think our healthy conscience would not allow us to get misled by Rathana like Ballige puthas that would do anything and everyhting but being wrapped around by RED ROBEs onthe costs of SO CALLED sinhala buddhists. I am also born buddhist, but i dont want me to be called sinhala buddhist.

  • 5
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    Can sympathise with all the conclusions about the consumer society which is overstitching itself and will result in a catastrophe. But, there is a giant leap. What is the scientific link between the consumer society and the coronavirus? Best explanation is that it started in the food markets of China, probably one used by the poor, not a posh supermarket, but one which was not clean. You cannot launch from there into a well justified tirade against consumerism. Why consumerism will fail is because it creates such a gap between the rich and the poor that the poor will do something about it soon. Linking this with the coronavirus requires something religious like paying for the sin of unbridled consumerism. But, economics hopefully is not based on such unprovable notions.

  • 5
    0

    Thank you Mr.Amir Ali for the points you have made in your write up.

    Racist hate legitimised by political passion is a necessary corollary of capitalism. Materially minded economists may repeat half truths that man’s happiness lies in economic security.The WB,IMF,WTO are all geared up to defend corporate globalisation and the task is at to stop the corporate globalisers to making the existing bad situation to become worse, because the universe is too great a mystery for there to be one single approach to it.
    We humans getting through this life within a limited space of time also believe that human dignity is the essence of true religion.
    That’s the reason in the meantime, we must not get swayed away and forget that art of successful living is the art of coping a balance with the expected and the unexpected Coronavirus rampaging the globe.

  • 1
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    I am surprised that AA did not drag ‘Buddhist Supremacists’ to the corona virus epidemic.

    • 3
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      Eagle Confused Eye,

      Dragging idiotic ‘Buddhist Supremacists’ would have been a distraction to the theme of the essay, and besides the COVID-19 virus only cares about propagation by infecting cells. Monks, prostrating imbeciles, Priests, Ulama, idiots are good only if they can be infected by the virus.

      Unlike the ‘Buddhist Supremacists ‘, who are distorting Buddhism and insulting the Buddha, for the low Mean IQ 79 imbeciles to follow, the COVID-19, is very egalitarian.

      • 2
        1

        How can AA drag “Buddhist Supremacists” to the Corona virus epidemic, when they organised Buddhist monks to conduct Pirith producing Pirith Pan and got it sprayed over Colombo by a helicopter to eradicate Corona virus.

        • 2
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          Dr. Gnana Sankaralibgam,

          The monks should have offered their COVID-19 containment plan to the Europeans, Americans and the WHO, and demonstrated their “divine” technology.

          Pirith, Purith, Pirith and tie the strings.

        • 2
          1

          Dr. Gnana S.,

          Divine help for imbeciles, mean IQ 79.

          Aranodaya Mawatha at Obeysekerepura in Sri Jayewardenepura Kotte, has come under scrutiny following the information that two children and four adults, who had gone on a pilgrimage with a pastor, were found with symptoms of Covid-19, Municipal Council Chief Medical Officer Manoj Rodrigo said today.

          He said that those with symptoms had taken part in a Divine Service organised by the Pastor at Suriyawewa on March 15.

          The Pastor had also used two buses to take the participants to the Divine Service. The pastor who organised the service has also closed the church.

  • 0
    2

    A govt should be for people. But, how many govts were caught careless about the disease spread. If 1000 people died because of this disease, how do you explain it, lack of democracy. That govt was not there for that 1000 people. They think wealth is eternal. What is wealth once you are dead. See, they have wealth and Technology yet they do not understand that they are stupid.
    I have to say Sri Lankan govts were behaved. I do not criticise the present govts of just five months with an ineffective parliament of which every party is trying to be important. My point in brief is, we here Sri Lanka has poverty stricken people who can not buy their daily needs. But, the govts have allowed ROTTEN RICE, VEGETABLES WERE DISCRDED. so that instead of people animals were eating those. What is the need of cabinet ministers, president, prime minister etc.,
    With respect to the world, amidst all these problem, multi trillion dollar economic harm, because of careless govts 1000s people are infected, 1000 or more died, but they are busy with war games and relocating troops in the middle of these. It is like they are eternal.

  • 0
    3

    Common cold is from viruses and common cold is not always the same. That is why infants get it over and over again until they develop considerable body immunity. It looks because of wealth accumulation govts are more interested about military exercise and dominating worlds, or simply do not care about the public, may be they do not have money to throw out, most probably, IT IS NOT OUR DISEASE.
    Anyway, this flu shows close relation with animal meat eating and the infection.
    What is that wealth or technological advancements if the govt can not look after their people.

    • 2
      0

      JD,
      please get your facts right from the BASIC virology. Anyone that learnt some biology would know that simple viruses could change their genetic material in the replication processes. Meaning… forming mutations are part and parcel of their breeding. So, forming mutants are an inevitable process. That is why yet today it has been rather difficult to find proper medication for viral diseases.
      :
      They the virologists, and the line of researchers make every hard efforts on years long of researchs, to learn more about the behaviours of the viruses. Here for finding vaccines can only work if they would close to finding block-proteins…. so long that would not not work, research should continue. ACE2 is the receptor protein which is reported to be a match with key-lock mechnism regarding this pathway, but what is not known yet could be even more that what we know in this regard.
      Good luck… Bless you all.

      • 0
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        Post Doc: You are dumb. It does not change every 20 min.

        • 0
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          Post Doc: Corona virus has vaccines produced. Because, SARs, MERS are also by the same virus. But, People have to find why this specific strain is more virulent. There is a paper published on that too. I wrote some where China has begun human trials and USA will begin in April in the UK.

          • 2
            0

            JD,
            Sure, there are vaccines for other viral diseases. But not yet for COVID-19. Get your facts right man, before trying to shoot the messenger. There are few firms that are the front runners of manufacturing vaccines for COVID-19 (Moderna, IGlied and CureVac).
            What does not change every 20 min ?

            They ve been recruiting lot more patients but the process would take years long. However, some signs are given by one of the above companies. if their efforts would work properly, even before August, a vaccine against COVID-19 could be a reality.
            However, the after effects and safety efficacy would need another 2 years or so.

          • 0
            0

            JD,

            “But, People have to find why this specific strain is more virulent.”

            If enough people get the virus, eventually humans will build up some natural resistance to it. It will be like the flu. But the process will take a long time. Vaccine is the shortcut.

  • 2
    0

    Dear Dr. Amir Ali,
    Your quote “The global economic machine was oiled not by production of goods and services but by finances structured on baseless derivatives”, I agree with you 100% (I am not an economist). The root cause for this was Ronald Regan and Margret Thatcher, both killed labour unionism and this has lead to the CEO’s making several millions as wages and stocks at the expense of the labour which is the back-bone of production, but now it is treated as a expendable commodity. There is no limit or end for these CEO’s and share holders greed. The economists theorizes in bottom line to support the greed, along with the current technology wizards who are in bed with all these super greedy human beings.

    I dont know where all these going to lead us, may be back to square one as social unrest, but this will be branded as terrorism.

  • 1
    1

    Forward this to that Royalist Kapruka Herath.

  • 1
    1

    “All religions have historically been hired by ruling orders to participate in this camouflage by promising heavenly rewards to the meek and the poor in return for putting up with sufferings in this world. However, there is one victim that refuses to put up with this dollar managed drama and greed propelled growth, and that victim is the ENVIRONMENT.”

    That is fearlessly professing of the truth. But the rest did not go that good. Specially, no solution offered to the problem or strayed too far away from the problem in the name of seeking a solution.

    Human society is on the move. Calling for return is equal to asking people to stop dressing and returning to jungle. Keynes and Marx are like Buddha and Christ of recent centuries. Like the religions should seek their path, old economists’ economic theories also have sought their path. Gone! No worry about the spilled milk.

    No point in putting forward a theory to stop technical development because it is feeding greed. In advanced societies, greed cannot be punished with religious whip and relax expecting a cure. Shouting continuously Ethics, Ethics, Moral, Moral will neither bring any change. In a civilized world, punishment is not a solution for anything. Education is the solution. Technology is one should bring an answer to greed, too. So go forward with the development of technology to invent answers to the reaming or newly created problems.

  • 2
    0

    The two things that are not mentioned here, in global terms, are (a) unsustainable population growth and (b) untenable increase in per capita consumption of goods and services.

    The world has well passed the carrying capacity of humans at the current levels of average consumption, to enable the rest of fauna and flora and humans to coexist in harmony with Nature. Sri Lanka, some say, passed the carrying capacity of humans, way back around 1958. We see its effects now, in confrontation with wild life, natural disasters, etc.

    In fundamental terms, we need to have active birth control to limit human population increase, reduce consumption of things with little utility value, and go back to a simpler life-style.

  • 0
    0

    The Covid-19 has cleared our atmosphere and there is cleaner air to breathe.
    Formulating a New Economic Policy should give more emphasis to keep the Environment cleaner so as to check-mate the Global Warming crisis which could be a lot worse than the Corona Virus.

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