The political economy of Covid 19 in the early 21st century

May 26 03:05 2020 Print This Article

The covid pandemic has had already a very significant impact beginning with the tragic death of over 100,000 people in North America alone. 6545 in Canada, 7633 in Mexico and a staggering 99,459 in the United States. World wide the total number of deaths is 347,873.As the New York Times Sunday edition made clear with its entire front page devoted to the names and short biography of a thousand of the American victims these are more than numbers but fellow human beings who loved and were loved, each of them much more than a number.

These shocking statistics have caused a number of politicians and analysts to a major rethinking of the public policy consensus on the role of the state and the degree of state intervention. Much of it is based on the growing renaissance in Keynes style analysis of what has been transpiring. Markets have been overwhelmed, unemployment has soared and aggregate demand and supply disrupted due to the virus and the threat it poses and the fear that it spreads.

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About Article Author

Harold Chorney Economist

Harold Chorney is a Professor of political economy at Concordia university in Montréal, Québec. He worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. He also worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. He's been sought after for consultation by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. His work on public sector deficits was discussed by members of the Government of France under the Presidency of Francois Mitterand.

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