Opinion: Coronavirus Can Teach Us the Value of a Democratic Economy Heading into November

Wise people always remind us to never let a good crisis go to waste.

Wise people with evil inclinations have, of course, taken this sage advice to heart, often exploiting crises, sometimes even arguably manufacturing them, in order to achieve nefarious ends. Naomi Klein, for example, in her 2007 book The Shock Doctrine: The Rise of Disaster Capitalism, develops precisely this thesis. She studies crises, such as the Iraq War or Hurricane Katrina, as moments when political and economic leaders took advantage of people’s physical and emotional distraction, their fear and vulnerability and desperate need, to push through neoliberal policies that effectively rolled back civil rights and democracy, furthered economic inequality, and basically consolidated power even further in the hands of the few. read more