If there is one good thing that comes out of the economic fallout from Covid-19, it is the concept that government can be helpful to the entire country when it's done right. Even Republicans are accepting that healthcare, infrastructure, supply chains, and transportation require the safety net of government. We all would be better off if that safety net were in place all the time and the Wall Street casinos were closed.
Saturday, March 28, 2020
CAPITALISM ONLY WORKS IN PEACETIME
The Covid-19 pandemic is showing the world that capitalism doesn't work very well in the setting of economic collapse from a pandemic. Looking back in history, the same thing happens during wartime. Dog-eat-dog capitalism, every person for him/herself, libertarianism and rugged individualism all fail in times like these. Governments have to take over and do what is right for the population at large. That is happening in congress right now. It applies especially to healthcare but also to manufacturing, maintaining supply chains, transportation, almost all sectors of business. The stock market tanking in the face of pandemic or war is the perfect example of how Wall Street is really just a giant casino in peacetime.
If there is one good thing that comes out of the economic fallout from Covid-19, it is the concept that government can be helpful to the entire country when it's done right. Even Republicans are accepting that healthcare, infrastructure, supply chains, and transportation require the safety net of government. We all would be better off if that safety net were in place all the time and the Wall Street casinos were closed.
If there is one good thing that comes out of the economic fallout from Covid-19, it is the concept that government can be helpful to the entire country when it's done right. Even Republicans are accepting that healthcare, infrastructure, supply chains, and transportation require the safety net of government. We all would be better off if that safety net were in place all the time and the Wall Street casinos were closed.
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