Open AccessLEARNING FROM CRISES? – SOME PHILOSOPHICAL AND POLITICO-ECONOMIC CONSIDERATIONS IN THE LIGHT OF THE COVID-19 PANDEMIC
Author(s) -
Frank Daumann,
Florian Follert
Publication year - 2021
Publication title -
procesos de mercado
Language(s) - English
Resource type - Journals
ISSN - 1697-6797
DOI - 10.52195/pm.v18i1.711
Subject(s) - wonder , pandemic , mill , value (mathematics) , state (computer science) , consumption (sociology) , natural disaster , natural (archaeology) , sword , covid-19 , economic history , history , political economy , development economics , political science , economics , sociology , geography , social science , philosophy , engineering , archaeology , epistemology , algorithm , pathology , computer science , machine learning , medicine , disease , meteorology , infectious disease (medical specialty) , mechanical engineering
As Boettke et al. (2007, p. 363) emphasize “Disasters, whether man-made or natural, represent a ‘natural experiment’ for social scientists”. They refer to a very famous quote from John Stuart Mill (1849, pp. 74–75) concerning the value of free economics for the recovery after crises:“This perpetual consumption and reproduction of capital affords the explanation of what has so often excited wonder, the great rapidity with which countries recover from a state of devastation; the disappearance, in a short time, of all traces of the mischiefs done by earthquakes, floods, hurricanes, and the ravages of war. An enemy lays waste a country by fire and sword, and destroys or carries away nearly all the moveable wealth existing in it; all the inhabitants are ruined, and yet, in a few years after, everything is much as it was before.”