This refers to the editorial ‘Managing public debt’ (July 21). Macroeconomics deals with the creation of wealth and growth indices, while microeconomics, guided by government policies after analysis of the needs of stakeholders, helps in understanding and designing how the wealth can be spent.
Covid-19 has helped us realise that we lag in the application of microeconomics, which incurs infectious expenditure and debt. The unique problem amid Covid-19 is that every sector has been eroded of wealth and the ability to create it. Nations need massive deficit financing and more ...
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