'Neoliberal pundits and conservative economists have insisted in the past several decades that markets can be the solution to nearly every problem societies face. In fact, the current health crisis is demonstrating the opposite.' (via latimesopinion)
California will never be the same. Tell us what you want to see change after the coronavirus pandemic
The point is rather that anyone believing that the economy and society more generally need very little help from government is wrong. The current crisis is making it very clear that even the most powerful industries are vulnerable. It is also making clear that, by definition, markets lack the type of coordination needed to address crises. We are turning first to public officials, not CEOs or CFOs.
Unemployment benefits, for instance, should be designed to support major crises that last not months but a year or more, and with payments that come close to full, or at least livable, wages. Robust sick leave policies should be introduced. The capacity of critical government websites and offices — such as those linked to unemployment claims — should be greatly expanded to operate properly when demand surges, and not just under normal conditions. Protocols for local, state and federal coordination should be augmented and refined, so that critical supplies are produced, tracked and easily and fairly distributed in times of need.
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