How Covid Crashed The System

"An influential, big-picture thinker and a science writer investigate why America's health care system failed so tragically during the Covid pandemic and how the forces unleashed by the crisis could be just the medicine for its long-term cure"--

Free market, competitive capitalism is dead. The separation between politics and economics can no longer be sustained. In The Corona Crash, leading economics commentator Grace Blakeley theorises about the epoch-making changes that the coronavirus brings in its wake. We are living through a unique moment in history. The pandemic has caused the deepest global recession since the Second World War. Meanwhile the human cost is reflected in a still-rising death toll, as many states find themselves unable—and some unwilling—to grapple with the effects of the virus. Whatever happens, we can never go back to business as usual. This crisis will tip us into a new era of monopoly capitalism, argues Blakeley, as the corporate economy collapses into the arms of the state, and the tech giants grow to unprecedented proportions. We need a radical response. The recovery could see the transformation of our political, economic, and social systems based on the principles of the Green New Deal. If not, the alternatives, as Blakeley warns, may be even worse than we feared.

"This book’s great service is that it challenges us to consider the ways in which our institutions and systems, and the assumptions, positions and divisions that undergird them, leave us ill prepared for the next crisis."—Robert Rubin, The New York Times Book Review "Full of valuable insight and telling details, this may well be the best thing to read if you want to know what happened in 2020." --Paul Krugman, New York Review of Books Deftly weaving finance, politics, business, and the global human experience into one tight narrative, a tour-de-force account of 2020, the year that changed everything--from the acclaimed author of Crashed. The shocks of 2020 have been great and small, disrupting the world economy, international relations and the daily lives of virtually everyone on the planet. Never before has the entire world economy contracted by 20 percent in a matter of weeks nor in the historic record of modern capitalism has there been a moment in which 95 percent of the world's economies were suffering all at the same time. Across the world hundreds of millions have lost their jobs. And over it all looms the specter of pandemic, and death. Adam Tooze, whose last book was universally lauded for guiding us coherently through the chaos of the 2008 crash, now brings his bravura analytical and narrative skills to a panoramic and synthetic overview of our current crisis. By focusing on finance and business, he sets the pandemic story in a frame that casts a sobering new light on how unprepared the world was to fight the crisis, and how deep the ruptures in our way of living and doing business are. The virus has attacked the economy with as much ferocity as it has our health, and there is no vaccine arriving to address that. Tooze's special gift is to show how social organization, political interests, and economic policy interact with devastating human consequences, from your local hospital to the World Bank. He moves fluidly from the impact of currency fluctuations to the decimation of institutions--such as health-care systems, schools, and social services--in the name of efficiency. He starkly analyzes what happened when the pandemic collided with domestic politics (China's party conferences; the American elections), what the unintended consequences of the vaccine race might be, and the role climate change played in the pandemic. Finally, he proves how no unilateral declaration of 'independence" or isolation can extricate any modern country from the global web of travel, goods, services, and finance.

Families left grieving; small businesses shuttered; communities in lockdown; precarious workers set adrift; health care workers stressed beyond endurance. The COVID-19 pandemic has shaken the world to its core. But the cracks already ran deep. Featuring essays on poverty, health care, incarceration, basic income, policing, Indigenous communities, and more, this anthology delivers a stinging rebuke of the pre-pandemic status quo and a stark exposé of the buried weaknesses in our social and political systems. As policy makers scramble to bail out corporations and preserve an unsustainable labour market, an even greater global catastrophe – in the form of ecological collapse, economic recession, and runaway inequality – looms large on the horizon. What can we do? From professors to poets, the authors of Sick of the System speak in one voice: We can turn our backs on “normal.” We can demand divestment, redistribution, and mutual aid. We can seize new forms of solidarity with both hands. As the world holds its breath, revolutionary ideas have an unprecedented chance to gain ground. There should be no going back.

WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.

The coronavirus pandemic, the deepening economic crash, dangerously divisive political responses, and exploding social tensions have thrown an already declining American capitalist system into a tailspin. The consequences of these mounting and intertwined crises will shape our future. In this unique collection of essays, Richard D. Wolff argues clearly that "returning to normal" no longer responds adequately to the accumulated problems of US capitalism. What is necessary, instead, is transition toward a new economic system that works for all of us.

Since the appearance of Waitzkin's The Second Sickness, a landmark book of the 1980s, American medicine has been dramatically transformed. Waitzkin's earlier edition used qualitative research to take readers inside the “black box” of medical decisionmaking. This new, fully updated and expanded edition retains the earlier edition's vivid approach and adds timely analysis of how managed care and other economic and social forces influence medical practice today.

We are at the cusp of a golden age in space science, as increasingly more entrepreneurs—Elon Musk, Richard Branson, Jeff Bezos—are seduced by the commercial potential of human access to space. But Beyond Earth does not offer another wide-eyed technology fantasy: instead, it is grounded not only in the human capacity for invention and the appeal of adventure, but also in the bureaucratic, political, and scientific realities that present obstacles to space travel—realities that have hampered NASA's efforts ever since the Challenger disaster. In Beyond Earth, the authors offer groundbreaking research and argue persuasively that not Mars, but Titan—a moon of Saturn with a nitrogen atmosphere, a weather cycle, and an inexhaustible supply of cheap energy—offers the most realistic, and thrilling, prospect of life without support from Earth.