Traditional economic theory says that a demand slump is usually caused or followed by an excess of supply. Conversely if there are supply constraints then demand tends to overshoot, leading  to an over-heating of the economy and a subsequent re-adjustment of output. However, the present situation defies both principles, characterised as it is by both demand suppression and supply constraints. Clearly, conventional solutions will not work and businesses will have to think of innovative responses. Conventional notions must be discarded and established assumptions re-examined. No cost is sacrosanct and no opportunity should be considered worth rejecting. Adit Jain shares his insights.

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