Letter to BS: Need to re-think policy actions that benefit all countries

It should not be forgotten that sound economics consists of taking into account long-term effects of a particular policy on all rather than short-term effects on a particular group

This refers to “Global trade war spooks markets; Sensex slumps” (March 24). The recent trade war fear involving mainly the US and China points to the question of how an economic ideology to govern a country remains unsolved at best. This is a byproduct of the reality that globalisation coupled with crony capitalism, during the last two decades, has ended up increasing inequalities among different countries and within the countries as well. It has also resulted in massive job losses in the western world. Along with this, the technological advances in the area of artificial intelligence have led to a