"Socialism" to save neoliberalism?
Related: (from the Financial Times)
By a defender of capitalism and "the gains of the free market" in the last decades.
"More complex will be the response on welfare and inequality. While the pandemic is not a crisis of capitalism, it highlights the system’s weak spots, most notably around unprotected workers and those on precarious incomes. Many lost jobs will not come back as companies see means and need for leaner operations. For some this will strengthen the case for a universal basic income or a more generous safety net. At the very least we are likely to see demands for more protections for gig workers. The crisis strengthens those who want policy to think of the less fortunate."
And this one:
"Bailouts will again be needed now, given a market downturn that mirrors 1929 and an economic contraction likely to be sharper than during the previous financial crisis. But if we want capitalism and liberal democracy to survive Covid-19, we cannot afford to repeat the mistaken “socialise the losses, privatise the gains” approach used a decade ago."
Related: (from the Financial Times)
By a defender of capitalism and "the gains of the free market" in the last decades.
"More complex will be the response on welfare and inequality. While the pandemic is not a crisis of capitalism, it highlights the system’s weak spots, most notably around unprotected workers and those on precarious incomes. Many lost jobs will not come back as companies see means and need for leaner operations. For some this will strengthen the case for a universal basic income or a more generous safety net. At the very least we are likely to see demands for more protections for gig workers. The crisis strengthens those who want policy to think of the less fortunate."
And this one:
"Bailouts will again be needed now, given a market downturn that mirrors 1929 and an economic contraction likely to be sharper than during the previous financial crisis. But if we want capitalism and liberal democracy to survive Covid-19, we cannot afford to repeat the mistaken “socialise the losses, privatise the gains” approach used a decade ago."