Why the future of economy depends on compassion

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A new kind of imagination is called upon to tackle the world that has emerged with the Coronavirus pandemic.

Public policymaking was already in flux in the last decade under the twin influences of disruptive technology, especially in social media, and the rise of populist politics. Policy timelines, and feedback loop mechanisms, have been broken under these twin pressures.

Since the 2008 economic downturn, questions have consistently been asked if policymaking has the necessary tools to respond to the crisis that it faced. The Covid-19 pandemic has now shattered the last stand of business-as-usual.

But reinventing fundamental structures of economic and social policy is easier said than done. We now know that merely tinkering with the structure, as was attempted by various governments following the 2008 debacle, would not be enough.

Tragically, policy debates, especially led by activists, still seem trapped in arguments where both capitalism and…

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