The coronavirus crisis has reinvigorated some old debates about the role of the state and the pros and cons of free-market capitalism. Many of the new contributions from all sides have been insightful and constructive. Some, unfortunately, have not. One of the latter is a recent piece by Thomas Fazi, ‘Could Covid-19 vanquish neoliberalism?’, published … Continue reading ‘Could Covid-19 vanquish neoliberalism?’ – a response to Thomas Fazi
Tag: socialism
Coronavirus crisis doesn’t mean Corbyn was right
Given how trendy it is to blame ‘capitalism’ for all the world’s other ills, from wars to climate change, it’s no surprise that some have been quick to pin the current crisis on the failures of free markets too. Many have also used the need for unprecedented government intervention as evidence that the state should … Continue reading Coronavirus crisis doesn’t mean Corbyn was right
‘Intervention is essential, but does not signal a socialist state’
The coronavirus job retention scheme is the biggest step the Chancellor has taken so far, both in terms of its nature (subsidising the wages of millions of private sector worker) and cost (potentially many tens of billions of pounds). This raises three questions. Is this degree of state intervention justified? What more is needed? And … Continue reading ‘Intervention is essential, but does not signal a socialist state’
Plain-speaking Economics 