Mainstream Economics cannot help the recovery and rehabilitation of the Coronavirus-hit Global Economy – The Alternative is a New-stream Economics to Revive and Redistribute Global Supply Chains
M ainstream Economics took more than a decade to recover from the global financial crisis 2007/09 in the developed world, despite the well-known literature on business cycles, asset bubbles and busts, financial stability and monetary and fiscal prescriptions for macroeconomic stabilization. Further, the Coronavirus hit the global economy in early 2020 at the tail-end the decade-long recovery from the global financial crisis whereas same economics, i.e., concepts and prescriptions, seems to have failed to recover economies across the globe, both developed and developing, during last 20 months. Except in Malthusian Theory/Concept to deal with the population growth exceeding the food supply in the world/countries, Mainstream Economics does not cover pandemic risks and stabilization. Therefore, Mainstream Economic Prescriptions are not trust-worthy, given diverse market reactions that have been disrupting and disturbing global supply chains causing a severe loss of global econ...
