Striking the Balance for The Society

Markets for all the business are people directly or indirectly . Companies hire people to work and sell their commodities and services to people. People earn money as a wage and use them for their needs which is a market for the businesses ,it's a cycle .

During the pandemic , many orgs are firing employees , reducing wages .Respective Governments are incentivising organisations to increase the productivity(supply) by taking debt from banks, selling treasury bills and giving bonds and in return collecting more taxes from people to repay them . It's a vicious cycle .

I believe employers need to incentivise the workers more when they needed the most(Pandemic)and reduce the income gap.

Producing more with less workers has been a strategy for many corporate companies and a major reason behind industrial revolution ,then followed by great depression and Great War ( WW2) killing one third of world population.

The economist Dani Rodrik, advocates reforms that will induce firms to employ more numbers of less skilled workers. In that way it will be good for society rather than promoting capital intensive industries that employ less and produce more .

World is suffering from unemployment , Poverty and Hunger . It's high time to strike balance and all of us have a role to play.