News > The pandemic is showing us how capitalism is amazing, and inadequate

The pandemic is showing us how capitalism is amazing, and inadequate

The nine months of the pandemic have shown that in a modern state, capitalism can save the day — but only when the government exercises its power to guide the economy and act as the ultimate absorber of risk. The lesson of COVID capitalism is that big business needs big government.

With astonishing nimbleness and speed, businesses in the United States and worldwide have accomplished remarkable feats — most notably the biotechnology and pharmaceutical companies trying to fight the virus.  ​​​​​​​