There has been growing speculation about how the Covid-19 pandemic might change the world or, as I refer to it, the global political economy. There are divergent views. Many are cautiously optimistic. Some suggest we can return to conditions ex ante, with minor adjustments, like preparing for the next pandemic.

Naturally pessimistic, I come out on the side that verges on sheer horror. Loath as I am to make predictions, I believe Milton Friedman was right when he said the only social responsibility companies have is to make profit. I believe the next world — the post-pandemic global political economy — will deliberately avoid establishing an eco-socialist order driven towards a global common good, and preservation of common pool resources. Not while there is money to be made...

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