The Political Economy of the Next Pandemic

Review of Economic Analysis 14 (2022) 27-49

23 Pages Posted: 4 Apr 2022

See all articles by Peter A. G. van Bergeijk

Peter A. G. van Bergeijk

Erasmus University - Institute of Social Studies (ISS)

Multiple version iconThere are 2 versions of this paper

Date Written: February 16, 2022

Abstract

While the COVID-19 pandemic and recovery unfold in real time, this article investigates some of the major themes on preparations for the next pandemic. Humanity cannot rely on modern medicine to beat the coming ‘disease X’ and the world cannot afford the extortionate health and economic policy interventions during the COVID-19 pandemic again. From the COVID-19 pandemic we learned that the international economic organizations suffered from disaster myopia and that the self-image of the advanced economies is distorted. It also has become apparent that ‘beggar-thy-neighbor’ health care was generally practiced while global health care should have been the norm. A discussion on the related issues of rationing, triage and scarcity of health care during a pandemic is urgently needed. All in all, a major global investment project is necessary to reduce the vulnerability to and impact of pandemics. As inequalities to a large extent determine pandemic vulnerability, an adjustment of Sustainable Development Goals (SDG) is necessary.

Note:
Funding Information: None to declare.

Conflict of Interests: None to declare.

Keywords: covid-19, pandemic preparedness, global public goods, long-term strategy

JEL Classification: F53, H87, I18, P50

Suggested Citation

van Bergeijk, Peter A.G., The Political Economy of the Next Pandemic (February 16, 2022). Review of Economic Analysis 14 (2022) 27-49, Available at SSRN: https://ssrn.com/abstract=4036655

Peter A.G. Van Bergeijk (Contact Author)

Erasmus University - Institute of Social Studies (ISS) ( email )

PO Box 29776
2502 LT The Hague, 2518 AX
Netherlands

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