London Daily

Focus on the big picture.
Monday, Aug 25, 2025

A new economy for a post pandemic world

A new economy for a post pandemic world

The 2008 financial crisis showed the Milton Friedman Economic Model of a Laissez-Faire, Production Oriented, Trickledown, Austere, and financially driven Economy, a paper tiger.
The idea that the economy is the tool of the 1% at the top of the wealth pyramid has led to anger in blue-collar communities of western societies, and ultimately to today’s populist and fascist resurgence, with authoritarian types at the helm of the western world.

Unfettered deregulation, far from generating strong economic growth has led to lower economic growth, greater inequality, and social disruption.

The COVID-19 pandemic has been the nail in the coffin for austerity and trickledown. Big Government is back. And Big Government and community cohesion alone will take the world to the place of sustainable economic and social prosperity.

A better future for mankind after this pandemic is one of deeper cooperation between nations, especially in combatting the environmental and ecological challenges facing humanity.

The swift and vast spread of the Covid 19 pandemic was the direct result of a world that saw various governments sitting in silos and fox holes unable to cooperate. The age of the statesman had given way to the era of the populist and authoritarian seeking national glory.

Statesmanship and thoughtful and painstaking global policy is great for safety and security, and especially good for economics.

On the other hand the world over the past four years with Trump. Brexit, and the creed of the populist strongman, has driven uncertainty and instability.

President-Elect Joe Biden promises a return to balanced statesmanship, thoughtful leadership, rejoining the Paris Climate Agreement, and the World Health Organization.

The world may need to restructure global debt which is becoming unsustainable.

Debt restructuring will offer confidence to investors and consumers and will lead to more sustainable economic growth.

The world remains deep in recession. And it will take strong economic statesmanship to introduce and drive the policies that will allow a return to economic growth.

But that will further mean international cooperation and understanding that only statesmanship provides.

Economist Joseph Stiglitz states that ‘’ with multiple vaccines in sight, the task is to build a bridge from the pandemic to the post-pandemic economy.’’

There will be no V-shaped recovery. Businesses have gone bankrupt. Home budgets have been destroyed. The pandemic has increased inequality and it has taken a massive toll on the bottom of the wealth pyramid.

It will take strong and technocratic type of leadership to rescue the world economy.
Newsletter

Related Articles

0:00
0:00
Close
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
×