The world has followed inexorably in the tracks of that Chinese city since it first reported cases of SARS-CoV-2 (aka Covid-19) at the end of 2019. If that’s the light at the end of the coronavirus tunnel in China’s exceptionally disciplined and authoritarian society, what can the rest of us hope for? We have been taught that economic growth is the ultimate goal, and it’s the only way to gauge progress. Its return to relevance is an improbable plot twist to the 1930s battle of theories between the Viennese-born economist Friedrich Hayek and John Maynard Keynes of the UK. At that time, Keynes reigned supreme with his advocacy of managed market economies, where the government plays an essential shepherding role.

Source: Dhaka Tribune April 11, 2020 08:15 UTC