![]() ![]() It wasn’t profitable to make tests and store them in a warehouse. I’m not here to point the finger of blame-you all know where that belongs-I’m trying to get a lesson out of this, an economics lesson.Īnd here it is. And there’s a lesson in the lack of preparedness and the lesson in the lack of coping. We didn’t produce them, we didn’t stockpile them, we didn’t distribute them around, we didn’t even have them for the medical personnel and the others on the front lines of dealing with that crisis. We didn’t have on hand the tests, the masks, the ventilators, the hospitals, the beds, the gowns and so on that we needed. Here’s what I mean in particular: We know-unless we are really deluded-that there was inadequate preparation and inadequate coping with that pandemic. I want to talk today about a lesson, a lesson taught to us by the coronavirus pandemic and one that we want to learn if we want to pull something positive out of all the negatives that were part of that crisis. Welcome, friends, to another edition of Economic Update, a weekly program devoted to the dimensions of our lives that concern our incomes, our debts, our jobs, those of our children, those coming down the road facing us. Learn about joining our translation team: Want to help us translate and transcribe our videos? "Understanding Marxism"is also still available: Wolff's latest book " Understanding Socialism" is now available. įind quick and easy access to past episodes of Economic Update, including transcripts, on our EU Episode List page. If you would like to make a one time or monthly donation, visit our donation page. ![]() Every donation counts!Ī special thank you to our devoted EU Patreon community whose contributions make this show possible each week. Become an EU patron on Patreon: and help us spread Prof. We make it a point to provide the show free of ads. ![]()
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