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Monday, 20 April 2020

The Great Moral Bankruptcy

The IMF has labeled 2020 as the Great Lockdown when comparing to the Great Depression of the 1930s. The IMF takes an economic view, as expected. One can also take a very different view: the Great Moral Bankruptcy. That view is about cause & effect and micro vs macro.

The Great Moral Bankruptcy starts with China, which has continually lied about the virus origin, the dangers of COVID-19, and its fatalities, which has resulted in a global coronavirus pandemic. It's doubtful if anyone can ever trust China again (eg, FA, Independent).

The Great Moral Bankruptcy extends to Europe where several countries are denying their citizens their democratic rights by forcing them to stay at home for many weeks if not months, while risking hefty fines if citizens go outside for "inappropriate" reasons.

The Great Moral Bankruptcy extends to nearly all countries by denying (i) the right to meet their family members to senior citizens in nursing homes and/or hospitals, (ii) a proper farewell to the dying, and (iii) a proper burial ceremony to the deceased.

The Great Moral Bankruptcy applies to USA which "spends more than any other nation on health care, and yet has the lowest life expectancy among rich countries". About 22 million workers have already been laid off, while companies are busy privatizing profits and socializing losses at the expense of the #1 country in corona related fatalities.

The Great Moral Bankruptcy extends to adults, who are ruining the prospects of young generations (< 25 years old). They are the ones that will have to pay increased taxation to recover the enormous debts, following the bailout of companies, organisations, and unemployed workers.

The Great Moral Bankruptcy applies to governments denying the very existence of the virus, then losing valuable time for remediation, while spreading false rumours, and only acknowledging - albeit half-heartedly - the virus after its explosion (eg, Brazil, China, Russia, USA).

The Great Moral Bankruptcy extends to countries, eager to "never let a good crisis go to waste", for introducing mass surveillance by using tracking and tracing tools through "voluntary" - if not mandatory - smartphone apps.

The Great Moral Bankruptcy applies to all of us, who only want to see either the micro or the macro side of this healthcare versus economy versus fear debate. Both sides must find an exit together.

Only Sweden appears to have made a sound judgement in this debate.

Take a Chance on Me (1978) by ABBA

Note: all markings (bolditalicunderlining) by LO unless stated otherwise.

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