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The Soho Forum Debates
Did Capitalism Fail During the Pandemic?
Apr 5, 2024
Joe Nocera and Gene Epstein debate the impact of capitalism during the pandemic, discussing globalization, cronyism in big pharma, and shortages of medical supplies. They explore private equity in nursing homes, profit motives in healthcare, rising income inequality, and the influence of crony capitalism on vaccine development. The debate touches on government-business alliances, economic consequences of lockdowns, and disparities in pandemic responses worldwide.
01:32:22
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Quick takeaways
- Capitalism's focus on shareholder profits over resilience left the US vulnerable during the pandemic.
- Issues in vaccine production were attributed to crony capitalism and government shielding companies from liability.
Deep dives
Capitalism's Role in the COVID-19 Response
Capitalism's impact on the US preparedness for the COVID-19 pandemic was debated at the Soho Forum. Joan Nissara argued that capitalism left the US vulnerable due to prioritizing shareholder profits over resilience, leading to a lack of critical supplies like PPE made in China. On the other hand, Gene Epstein countered, attributing issues to cronyism and government collusion with big pharma, emphasizing the need for responsible capitalism.
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