The Covid-19 pandemic has shone light onto societal and economic systems across the world, exposing what some believe to be flaws of globalisation, the market economy and our high levels of interdependence. Governments have announced radical measures to support economies in stasis until lockdowns are eased. US President Donald Trump has argued that “the government intervention is not a government takeover. Its purpose is not to weaken the free market. It is to preserve the free market.”
Is he right, or will the state play a very different role in the economy long after this crisis is past?
Professor Syed Kamall, IEA Research Director, speaks to David Henderson, as part of the IEA’s ‘In Conversation’ series.
David is a research fellow at the Hoover Institution, Emeritus Professor of Economics at the Naval Postgraduate School in Monterey, and author of ‘Covid vs Capitalism’.