Coronavirus: upward trajectory or flattened curve?
Leave a comment Cancel reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Real-World Economics Review
WEA Books
follow this blog on Twitter
Top Posts- last 48 hours
- The problem with electric vehicles
- Lost opportunities?
- Weekend read - A STIGLITZ ERROR?
- Comments on RWER issue no. 69
- With a modest financial transactions tax, Jim Simons would not have been superrich
- Dystopia and economics
- Economics — a dismal and harmful science
- Reflections on the “Inside Job”
- Water Flowing Upwards: Net financial flows from developing countries
- Piketty’s response to Mankiw et al.: "and some consume academics.”
"We cannot solve our problems with the same thinking we used when we created them." Albert Einstein
Regular Contributors
Real World Economics Review
The RWER is a free open-access journal, but with access to the current issue restricted to its 25,952 subscribers (07/12/16). Subscriptions are free. Over one million full-text copies of RWER papers are downloaded per year.
WEA online conference: Trade Wars after Coronavirus
Comments on recent RWER issues
————– WEA Paperbacks ————– ———– available at low prices ———– ————- on most Amazons ————-
WEA Periodicals
----- World Economics Association ----- founded 2011 – today 13,800 members
Recent Comments
- David Harold Chester on Weekend read – A STIGLITZ ERROR?
- David Harold Chester on Weekend read – A STIGLITZ ERROR?
- sackergeoff on With a modest financial transactions tax, Jim Simons would not have been superrich
- CBASILOVECCHIO on Weekend read – A STIGLITZ ERROR?
- David Harold Chester on Weekend read – A STIGLITZ ERROR?
- pfeffertag on Weekend read – A STIGLITZ ERROR?
- CBASILOVECCHIO on Weekend read – A STIGLITZ ERROR?
- Arbo on Economics — a dismal and harmful science
- spamletblog on Economics — a dismal and harmful science
- bckcdb on Economics — a dismal and harmful science
- David Harold Chester on Real-world economists take note!
- Patrick Newman on Real-world economists take note!
- deshoebox on Real-world economists take note!
- felipefrs on The non-existence of economic laws
- Seeker on The non-existence of economic laws
Comments on issue 74 - repaired
Comments on RWER issues
WEA Online Conferences
—- More WEA Paperbacks —-
———— Armando Ochangco ———-
Shimshon Bichler / Jonathan Nitzan
————— Herman Daly —————-
————— Asad Zaman —————
—————– C. T. Kurien —————
————— Robert Locke —————-
Guidelines for Comments
• This blog is renowned for its high level of comment discussion. These guidelines exist to further that reputation.
• Engage with the arguments of the post and of your fellow discussants.
• Try not to flood discussion threads with only your comments.
• Do not post slight variations of the same comment under multiple posts.
• Show your fellow discussants the same courtesy you would if you were sitting around a table with them.
Most downloaded RWER papers
- Global finance in crisis (Jacques Sapir)
- The state of China’s economy 2009 (James Angresano)
- What Is Neoclassical Economics? (Christian Arnsperger and Yanis Varoufakis)
- Why some countries are poor and some rich: a non-Eurocentric view (Deniz Kellecioglu)
- The housing bubble and the financial crisis (Dean Baker)
- New thinking on poverty (Paul Shaffer)
- Green capitalism: the god that failed (Richard Smith)
- Trade and inequality: The role of economists (Dean Baker)
- Debunking the theory of the firm—a chronology (Steve Keen and Russell Standish)
Family Links
Contact
follow this blog on Twitter
RWER Board of Editors
Nicola Acocella (Italy, University of Rome) Robert Costanza (USA, Portland State University) Wolfgang Drechsler ( Estonia, Tallinn University of Technology) Kevin Gallagher (USA, Boston University) Jo Marie Griesgraber (USA, New Rules for Global Finance Coalition) Bernard Guerrien (France, Université Paris 1 Panthéon-Sorbonne) Michael Hudson (USA, University of Missouri at Kansas City) Frederic S. Lee (USA, University of Missouri at Kansas City) Anne Mayhew (USA, University of Tennessee) Gustavo Marqués (Argentina, Universidad de Buenos Aires) Julie A. Nelson (USA, University of Massachusetts, Boston) Paul Ormerod (UK, Volterra Consulting) Richard Parker (USA, Harvard University) Ann Pettifor (UK, Policy Research in Macroeconomics) Alicia Puyana (Mexico, Latin American School of Social Sciences) Jacques Sapir (France, École des hautes études en sciences socials) Peter Söderbaum (Sweden, School of Sustainable Development of Society and Technology) Peter Radford (USA, The Radford Free Press) David Ruccio (USA, Notre Dame University) Immanuel Wallerstein (USA, Yale University)
Why Italy (Spain not far behind) and why South Korea!
South Korea carried out tests on many more people – a large multiple of tests anywhere else. This enabled them to locate centres of infection and carriers and isolate them. Taiwan also did an excellent job. Both countries had learned from the SARS virus, which affected them. Don’t know about Italy. In terms of strategy, the polar opposite case to Taiwan is the UK, which has gone from few tests to even fewer and is relying on “social distancing” to slow down the spread of the virus but seems to accept the possibility that 80 per cent of the population will eventually get it. The theory seems to be that this will confer natural immunity and the numbers getting ill will be spread out over time so the health service will be able to cope.
Time will tell.
Actually, I do not see signs of measures to increase social distances in the UK. The government seems to be relying more on large number of people getting it leading, possibly, to immunity. Reckless strategy in my view; the main aim may be to avoid the collapse of the NHS which has been starved of resources by successive Conservative governments as well as by the PFI strategy of funding infrastructure projects. The latter means the transfer of large amount of funds from the NHS to the private lenders of the money for the projects, the banks.
Now we the British citizens pay with our lives
The new brand of “conservatives” whose pregnancy began just after WWII are best summarized by Margaret Thatcher’s “loud” statement, “there is no such thing as society.” Scary enough when taken this way, out of context. Even scarier when taken in context.
I think we have gone through a period when too many children and people have been given to understand “I have a problem, it is the Government’s job to cope with it!” or “I have a problem, I will go and get a grant to cope with it!” “I am homeless, the Government must house me!” and so they are casting their problems on society and who is society? There is no such thing! There are individual men and women and there are families and no government can do anything except through people and people look to themselves first… There is no such thing as society. There is living tapestry of men and women and people and the beauty of that tapestry and the quality of our lives will depend upon how much each of us is prepared to take responsibility for ourselves and each of us prepared to turn round and help by our own efforts those who are unfortunate.’
Sound familiar. It’s Barry Goldwater. But interestingly, not Ronald Reagan. It’s Newt Gingrich, but not G.H.W. Bush. The most cynical version of it is Dick Cheney. It is full devotion and obedience to one of the oldest mythologies in western civilization. The myth of individualism. See “The Myth of Individualism, How Social Forces Shape Our Lives” by Peter Callero. My own favorite “attack” on this myth is a 1931 article by American historian Charles A. Beard, “The Myth of Rugged American Individualism.” Where Beard, as an historian, writes, “It is becoming increasingly evident that the conception of society as made up of autonomous, independent individuals is as faulty from the point of view of economic realism as it is from the standpoint of Christian idealism. Our fundamental philosophy of rugged individualism must be modified to meet the needs of a co-operative age.” Or we can just borrow a term from psychiatry to describe it, sociopathy.
So long as we’re propagandize to live based on the notion that only individual to individual help given solely voluntarily is the only form of acceptable help, incidents like those with the current pandemic will become more severe and more frequent. Till eventually the US and perhaps the UK simply collapse. Or stand only as the play thing of some autocrat.