Has Covid-19 exposed the flaws of a free market economy?

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SINCE the 80s, the governments have chosen to take a back seat and let the economy steer itself. Governments intervene only when there’s a problem. Th...

the 80s, the governments have chosen to take a back seat and let the economy steer itself. Governments intervene only when there’s a problem.

In the UK, a nation-wide healthcare service, NHS saw budget cuts when the Conservative government took over - that policy has left the NHS weakened. The US, a country with no universal healthcare expectedly faced problems. Only those with insurance could afford medical care, and many weren’t sure if their insurance would cover Covid-19 testing. Fortunately, a televised address from President Donald Trump assured citizens that insurance companies would cover Covid-19 testing for free.In addition to showing the importance of healthcare, lockdowns or Movement Control Orders has shown the type of workers and economies that really matter.

 

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