Economic Update – The Pandemic’s Lesson about Capitalism

Preparing and coping with the Corona pandemic was inadequate: medical supplies were seriously deficient. That was because it was not profitable for firms to produce or stockpile the supplies. Neo-liberal governments were complicit with private profit capitalists rather than compensating for their inadequacies. The lesson: many basic social needs are like public health. We cannot, need not, and should not rely on capitalists to meet them. Alternatives are available.