Economic Reality: Economic Analysis of Yesterday, Today and Tomorrow

Abstract

The book is a collection of essays on Contemporary Economics by an Erudite Indian Economist Rajarshi Ghosh. He begins with an analysis of the current state of the Indian Economy which is a classic example of the impact of implementation of Neoliberal Economics as a messiah for all problems, while a mix of Fiscal and Monetary Stimulus is ideal for any Economy facing aggregate demand problems . On Covid 19, a surprise thought emerges that it is the old war horse which matter-A simple combination of Influenza, TB & Pneumonia Vaccines could build up such strong immunity against cold that Covid 19 could hardly affect life. This is followed by an Impact Analysis of Artificial Intelligence, much projected as a solution for everything, though it may not be so and needs deeper investigation. The Global Insurance Industry has been built by Brokers and Insurance Agents and today their existence could be threatened unless they pick up technical skills . Similarly such points could arise in other sectors of the Economy including the Informal Sector. And those displaced by Technology need Social Security to sustain life which may could be sustained by Universal Basic Income . The author also looks at Corporate Economic Behavior through his writings. Today it is not the survival of the fittest, but the quickest, the strategy that uses time based competition in order to create a competitive advantage in a VUCA world. A true leader gets unlimited output, in the digital age tools alter, but the basic remains same, common sense and a good heart. After Economy and Corporates , the author looks at Individual Economic Behavior.