What Today’s Bailouts Can Do for Tomorrow’s Economies
With governments around the world having already injected some $9 trillion into the economy, there can be no doubt that the COVID-19 pandemic has ushered in a new era in which public policy will play a larger economic role than seemed imaginable just a few months ago. How should governments embrace the opportunity?
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GENEVA – Last year, the World Economic Forum’s annual Global Competitiveness Report assessed 141 governments’ future-readiness and found that most rated poorly on this and other crucial long-term indicators. Yet now that the pandemic-induced lockdown is wreaking havoc on the global economy and exposing the inadequacies of many institutions, an era of bigger – and perhaps bolder – government has arrived.