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OECDGFD - Global Forum on Development

OECDGFD - Global Forum on Development
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COVID-19: Learning From Bitter Political Experience?

Why did some countries deal with COVID-19 better than others? Books, academic journal articles, and PhD dissertations will be written on that subject, with analysis having to contend with a vast array of country‐​specific variables that could, conceivably, have affected public health outcomes. But public choice economics offers up one underexplored way to think about the quality of responses: as driven by political incentives. Despite claims by economists such as Mariana Mazzucato that governments are forward‐​looking, there’s a good reason to suspect they will be ill‐​prepared when it comes to low‐​probability, high‐​risk events such as pandemics.

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