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“After the lockdown, when markets become less active, the subject of mainstream economics faces another tough ground. There are millions of poor people who do not have work. When lockdown happens, a great many people find resource markets stalled where they used to get income. More than ever, such crises necessitate the flow of resources from the haves to the have-nots. But, frozen goods and resource markets cannot help much, especially the poor and vulnerable people. That is where, pro-social behaviour and beyond-market distribution of resources is necessary. However, mainstream economics treats altruism as ‘impure’. It looks at altruism in the paradigm of pursuing self-interest.” — Salman Ahmed Shaikh
After the lockdown, when markets become less active, the subject of mainstream economics faces another tough ground. There are millions of poor people who do not have work. When lockdown happens, a great many people find resource markets stalled where they used to get income. More than ever, such crises necessitate the flow of resources from the haves to the have-nots. But, frozen goods and resource markets cannot help much, especially the poor and vulnerable people. That is where, pro-social behaviour and beyond-market distribution of resources is necessary. However, mainstream economics treats altruism as ‘impure’. It looks at altruism in the paradigm of pursuing self-interest.