A social contract for economic recovery

The case for cooperation on GST

Two heads are better than one, right? Yes, if both work towards shared goals, and one’s gains are not the other’s losses. This is why businesses cooperate. So could the government, industry and consumers, if governments — Central and states — choose to do so. Prospects can improve provided there are overall gains, and all boats rise with the tide.  Problems arise if the costs of cooperation are high, or if one participant makes net losses, or considers its share inequitable.

Economic reality and society’s economic contract (echoing Rousseau) have this triad of government, industry (products and services), and consumers, influenced