Ekam UPSC Economy Mains

The case of high working hours in Germany and East Asia in the middle of the last century, backed by public funding and coercion, is not an experience helpful to understanding the present in India

If official spokespersons enlarged the frame of economic assessment, a few stark facts come into focus

Elon Musk's vision of a future where AI has replaced all human labour was discussed at the Bletchley Park summit. Keynes and Marx had different views on the nature of work, but both agree that under capitalism, a world without work does not imply a world without drudgery. To bring Musk's vision to fruition, new institutional arrangements are needed, such as a universal basic income, to ensure individuals can access basic resources. The impact of technological innovations must be seen in the context of prevailing economic institutions.

India has been able to issue digital identities to almost all its citizens and the lessons can be used as a blueprint to maximise international development efforts