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The Not Good Society: Institutional Weaknesses Revealed by COVID-19

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  • Robert H. Scott
  • Steven Pressman

Abstract

This article discusses institutional weaknesses revealed by the COVID-19 pandemic. We investigate two institutions shown to be insufficient for maintaining economic stability during the pandemic. We focus on social safety nets that were tattered prior to the pandemic but are now more vulnerable to failure. We discuss unemployment and health care as twin crises. Job loss during the pandemic has been swift and deep. Many were in the service sector with lower average salaries. Besides the loss of income, many people have employer-sponsored health insurance. The compounding effects of income loss and inadequate access to health care have exposed our enfeebled social safety nets. We end with some policy suggestions to help create greater economic and social stability.

Suggested Citation

  • Robert H. Scott & Steven Pressman, 2021. "The Not Good Society: Institutional Weaknesses Revealed by COVID-19," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(2), pages 477-483, April.
    • Handle: RePEc:mes:jeciss:v:55:y:2021:i:2:p:477-483
    DOI: 10.1080/00213624.2021.1909349
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    Cited by:

    1. Mark Setterfield, 2023. "Will hysteresis effects afflict the US economy during the post-COVID recovery?," Working Papers 2306, New School for Social Research, Department of Economics.
    2. Mark Setterfield, 2022. "Neoliberalism: An Entrenched but Exhausted Growth Regime," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(79), pages 131-146, May.

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