Alternativism the Only Alternative

The Economic Times     19th December 2020     Save    

Context: The lessons learned during the pandemic should guide Indian towards building back better.

Impact of Pandemic:

  • Better air quality: In 2019, 21 Indian cities featured as the world’s 30 worst polluted cities. During the lockdown, the list had only two Indian cities.
    • A few weeks into the nationwide lockdown, PM10 reduced by 60% in Delhi’s air compared to pre-Covid times. PM2.5 was down by 39% too.
    • Mumbai’s best-ever AQI of 17 was recorded in June 2020, compared with 400 in January 2019.
  • On migrant workers:
    • Loss of income and jobs due to extreme lockdowns
    • Livelihood in crowded spaces with poor access to ventilation, water and sanitation. Covid-19 made these living conditions very unsafe, and many migrants to reverse-migrate back to villages.
  • On Economy and Industry:
    • Micro, Small and Medium Enterprises (MSMEs) suffered during the pandemic.
    • Airlines are flying at near-capacity, although on a restricted schedule.
    • Two-wheeler manufacturing companies report that they are back to 80% capacity utilization compared to pre-COVID levels.
    • In this crisis, we’ve seen the UN’s Sustainable Development Goal No. 8 (SDG 8) — decent work and economic growth — suffer.

Conclusion:

  • The economist Milton Friedman had once said, ‘Only a crisis — actual or perceived — produces real change. We are in a crisis if ever there was one. And one of the ideas lying around is that of building back better.
  • Of pursuing low climate solutions, of accelerating the path to a net-zero emission world, of following the path of ‘alternativism’ to build a better, more humane world.
  • Real profit is created by ensuring the well-being of people and the planet. Otherwise, the profit realized is the value taken away from future generations.
  • Solutions are going to be found through constant experimentation and application of new methods, whether they are new business models, new hiring practices, or a unique way of leveraging new technology.