95% of Economics is common sense deliberately made complicated. - Ha-Joon Chang

Partly, concidentally... we've... seen the rise of anti-racist movement... in the US and around the world... [W]e should use this as an occasion... establishing in countries that don't have it, but also strengthening the universal welfare state that we have in some countries, using this as an occasion to push further for actions... to push back these reactionary racist forces... [T]hose kind of things that are now in many peoples' minds. Perhaps... people thought those are ideally things that we want to have, but we cannot. But now we know that we can, and... if you look... countries that have taken a more solidaristic approach to this pandemic are the ones that have done better.

Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.

[H]ow do we rebuild society? ...My answers ...have ...been contained in my analysis of the crisis.