IMHO one consequence will be death of neoliberalism (started with Reagan/Thatcher but going philosophically to Hayek and Friedman). It is quite likely that U.S. will nationalize health care as a response to this crisis. But more broadly, the idea that government is a useless economic actor and shouldn't dictate economic policy will become laughable in the response to the crisis.
> It is quite likely that U.S. will nationalize health care as a response to this crisis.
If you think half the country infected with a virus and a million deaths is enough to topple a several hundred billion dollar insurance racket that has endured for over half a century exploiting health and wellbeing for profit...
I wish we would get single payer out of this, but the plague of greed in medicine is way too deep to be excised in a few months from a regular old viral plague.
I agree although the racket is more like a trillion. It is not just the insurance (payors) but also all the brokers and other rent seekers. I think there is 0% chance of nationalized health care in the US. Look at Obamacare; it didn't really work and took forever to get passed and most of the regulations have been rolled back. There are other things that I think could fix our health care and actually get passed and stick but Medicare For All isn't it. Too many in the US associate socialism with communism and think it unfair.
That mindset is a bit self-defeating, isn't it? I wonder if people thought we would have public schooling in the country 150 years ago, or that blacks could go to school with whites 100 years ago. Or that Germany would be the largest economy in Europe as a democratic republic, 70 years ago.
