Lessons from Globalization and the COVID-19 Pandemic for Economic, Environmental and Social Policy

Bianca Blum and Bernhard K. J. Neumärker
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Bianca Blum: Department of Economic Policy and Constitutional Economic Theory, Albert-Ludwigs-Universität Freiburg, 79098 Freiburg, Germany
Bernhard K. J. Neumärker: Department of Economic Policy and Constitutional Economic Theory, Albert-Ludwigs-Universität Freiburg, 79098 Freiburg, Germany

World, 2021, vol. 2, issue 2, 1-26

Abstract: The rapidly spreading COVID-19 pandemic in 2020 not only brought many countries in the world to a state of health crisis, but also increasingly drove economic and social crisis. The roots of these crises, however, run far deeper and can be traced to decades of neoliberal political and economic actions and driving forces of globalization. Increasing globalization and liberalization of markets led to the increasing privatization of many public goods while collectivizing risks such as environmental disasters, pandemics and economic crises. This paper presents the context and emergence of these crisis states and derives public policy implications in the areas of externalities management, digitalization, and basic income based on a broad literature review. These key issues need to be addressed both during and after the crisis in order to address the problems of environmental quality and climate change mitigation, as well as rising inequality and injustice for current and future generations.

Keywords: COVID-19; crisis management; basic income; environmental politics; globalization; public policy; inequality; sustainable development (search for similar items in EconPapers)
JEL-codes: G15 G17 G18 L21 L22 L25 L26 Q42 Q43 Q47 Q48 R51 R52 R58 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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