The proper role of government in the market economy: The case of the post-COVID recovery

Joseph Stiglitz

Journal of Government and Economics, 2021, vol. 1, issue C

Abstract: The long-lasting, widespread COVID-19 pandemic has imposed huge challenges on public health as well as economic recovery. Governments must take an active role in designing and enforcing economic policies to address various problems that pure market forces cannot, such as externalities and the absence of risk markets. Covid-19 has exposed deficiencies in current arrangements and the need to develop better institutions. We also need to develop better understandings of the relationship between government, the market, and other institutions within society.

Keywords: COVID-19; Economic recovery; Government; Fiscal stimulus funding; Markets (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jogoec:v:1:y:2021:i:c:s2667319321000045

DOI: 10.1016/j.jge.2021.100004

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