The coronavirus pandemic shows why the West must transform its economic logic
Robert Skidelsky in the New Statesman
We must end our dogmatic reliance on global supply chains and adopt “just-in-case” thinking.
Billions of dollars are spent stockpiling weapons of mass destruction. The same logic should be applied to stockpiling weapons of mass salvation.
For example, a world authority could be tasked with maintaining a strategic reserve of medical supplies needed to support the life of everyone on earth for three months – in the face of a limited range of drastic events.
Such stockpiling could be done nationally or regionally.