The Pandemic and the Global Economy

Developing countries face collapsing international trade, falling remittances, sharp reversals of capital flows, and currency depreciation. In this article for Dissent, Jayati Ghosh argues that only bold policies—debt relief, international financing, planning, and more—will avert further catastrophe. Ghosh also argues, more broadly, that the pandemic could encourage more recognition of things that truly matter: good health, interacting with other people, and participating in creative processes. Within the crisis conditions, Ghosh sees an opportunity to move away from dominant assumptions about individualistic utility maximization and the profit motive to more caring and cooperative social frameworks.

> Read article in Dissent

In a commentary for Dissent, PERI's Jayati Ghosh addresses the need for developing countries to create bold policies, including debt relief, international financing, and planning, in order to avert further catastrophe resulting from COVID-19.

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