Tax the Super Rich in India to Raise Resources to Fight Covid-19, Says Nobel Laureate Joseph Stiglitz

On the Centre’s call for ‘Atmanirbhar Bharat’ (Self-reliant India), the noted economist said too much self reliance will lower the standard of living as a lot of products, including vaccines, are imported. “This gives nativism but is not realistic, as the pandemic and climate change have shown the need for greater collaboration,” he said.

Stigliz also said India and the US did not handle theCOVID-19 situation well. Allowing the movement of migrant workers exacerbated the spread of the virus and defeated the purpose of lockdown, he said.

Stigliz criticised the US for widening the divide of racism and income, and “similar divisive politics in India”that will undermine the society and economy.