My new released book ”Ethical Economics From History To The Modern World” is also not untouched by current economic state, which needs to confine now.
By thinking of economy during COVID-19 pandemic, our first thought will come about Share market and economic slowdown which is going to be experienced in every sector and Share market is not untouched.
As sources says, World is going to face recession, but this recession is going to be different from past recessions. Any recession is totally depending on countries and its major policies. Globally, people are facing problems though global economy is having sound footing and stock prices at record high. Although oil prices are stable and going downward, market is not at risk.
Gold value is going upward and this is the main reason for having stability during this recession period.
All this current share market, oil and gold can definitely protect us from major slowdown. But not enough, to protect us totally from the recession.
To maintain economical sustainability, countries need to come up with lots of new and innovative sustainable ideas. The major fields which needs to be improved are: –
- Sustainable Industrialisation
- Upgrading poor people life style and
- Cultural and Environmental sustainable job creation.
Solving unemployment is not one day journey. We are facing it from a long time and now because of recession, we need to come up with new ideas so that it’s affects are trivial on us. Unemployment leads to poverty and poverty leads to illiteracy which in turn leads to unemployment. Unemployment cycle needs to be reformed. Everybody in this world should contribute towards mitigating unemployment, for example, hiring two people in less salary instead of paying too much salary to one person. And literacy rate required to be upgraded in the below poverty line and this will upgrade their life style which can increase the chances for better employment.
In the sense of poor people upgradation and to contribute in their life style, we need to offer them small jobs and encourage them to establish small scale industries which in turn can create several small jobs. By creating around hundred small NGOs (Non-Government Organisations) and build them strong and stable, we can help us create several jobs for the unemployed in this course.
Promoting more small-scale industries is a lifesaving step forward towards poor upgradation.
Other sources said that the World is facing global warming from quite a long time. So, creating an employment in this sector is now a high time. This could be part of sustainable industrial development.
And definitely we can’t forget about Environmental and Cultural upgradation. In every country, this environmental and cultural upgradation leads to a new organised World. A new age culture of ‘Work from Home’ needs to be invigorated in every sector. ‘Work from Home’ promotes Work-Life balance, reduces pollution, reduces stress, promotes health, creates better environment for future generation and enhances Happiness Index of any country.
Culture can protect our mind and health. Practising Yoga, Meditation, Colour therapy, Delta music, Acupuncture, Ayurveda, exercises and Spirituality helps every individual to upgrade to a decent life style, and this simple modifications in lifestyle can lead towards happiness and peace.
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