Does the Novel Coronavirus Signal the End for Neoliberalism?
Neoliberalism has proven itself to be a durable form of laissez-faire late Capitalism. The ‘free market system’ has been the dominant economic ideology in the Western world since the fall of the Berlin Wall in 1989, informing the tacit knowledge of billions around the definition of a successful life and how to achieve it. The Coronavirus presents faces the greatest challenge to Neoliberalism’s authority since it became the dominant economic ethos. The Neoliberal rule book has been torn up in ways that would have been unthinkable 10 weeks ago. Will it survive? The ‘For’ side argues that the Coronavirus will indeed deal a mortal blow to an ethos and system of economic and social organisation that was already facing serious challenge. ‘Against’ counters that, notwithstanding the short-term global shock the virus has delivered, Neo-liberalism will prevail as the dominant system of economic organisation once the crisis has passed.