Did socialist concepts save capitalist western economies?
I was looking through the raft of programs and incentives the government put in place or accelerated as part of their aim to lessen the impact of the COVID virus on our economies and businesses and companies. You can see the list here -
COVID-19 government assistance for business | business.gov.au
I’ll clarify that I agree with these incentives and that they were indeed needed during this time and I’m happy to pay taxes to pay for these programs into the future as I can see the benefits they brought about.
But I can’t help thinking that these programs are cemented in the socialist concept that we all pay for those in need. The only difference I can see is that these measures are aimed at business and companies rather than a human demographic. Let’s call it welfare for business.
I find it intriguing that for all its much vaunted strength and power and resilience, capitalism was brought to its knees by a virus and the only way to save capitalist economies was to embrace socialist concepts. Perhaps that was China’s goal to show us how fragile our belief in capitalism can be?
And if indeed socialism saved us, can we celebrate it or would that trigger too many conservative pundits out there who hang anyone even mentioning it?