COVID-19 and the Structural Crises of Our Time

<p>We live in paradoxical times. Traditionally the West has led the world in theory and practice. Yet recent developments from COVID-19 to the storming of the US Capitol show how lost the West has become. This loss of direction has deep roots. In their usual thoughtful and incisive fashion Lim Mah-Hui and Michael Heng Siam-Heng draw out the deeper origins of our current crises and show us a new way forward. A must-read for anyone who wants to understand our strange times. -- Kishore Mahbubani founding Dean of the Lee Kuan Yew School of Public Policy National University of Singapore is the author of Has China Won?</p><p><br></p><p>A powerful and compelling critique of neoliberal globalization and its potentially devastating but long underestimated consequences for financial stability the environment social equity and democracy. COVID-19 has laid bare these dysfunctions and stresses. But this is not a pessimistic book. The authors argue correctly that we may be on the cusp of another Great Transformation. The choices we make today to make markets more resilient improve social protection and preserve our freedoms could lay the foundations for a sustainable globalization that works for future generations. -- Donald Low Professor of Practice in Public Policy and Director of the Institute for Emerging Market Studies Hong Kong University of Science and Technology</p><p><br></p><p>This fascinating book highlights the interplay between financial and health crises that the COVID-19 pandemic exposed. Financialized capitalism is bad for the planet bad for human health and creates more unequal and insecure societies. The authors make a strong and convincing case for re-embedding markets into society and finance into the real economy. --Jayati Ghosh Professor of Economics University of Massachusetts at Amherst USA</p><p><br></p><p>Lim and Heng's ambitious volume argues that 2020 was the year of the global 'perfect storm' of multiple crises with the COVID-19 pandemic exacerbating financial economic socio-political and environmental breakdowns. They extend Karl Polanyi's original insights to appeal for a sustainable global New Deal. While the reader may not agree with all their theses the scope of their coverage and ambition will set the stage for debates over the annus horribilis. -- Jomo K.S. Founder-chair IDEAS www.network.ideas; former United Nations Assistant Secretary General</p><p><br></p><p>This book provides plenty of food for thought for many pondering if the COVID-19 crisis could lead to a major transformation of the global economic system shaped by unfettered market forces and policies of governments in their service.-- Yilmaz Akyuz former Director UNCTAD Geneva</p><p><br></p>