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Shutdown: how COVID shook the world’s economy

Shutdown: how COVID shook the world’s economy EURASIAN GEOGRAPHY AND ECONOMICS BOOK REVIEW Shutdown: how COVID shook the world’s economy, by Adam Tooze, New York, USA, Viking, 2021, 368 pp., $17.04 (hardcover), ISBN 9780593297551; $25.08 (paperback), ISBN 9780241501771; $15.99 (eBook), ISBN 9780593297568 International trade and financial institutions have been in a position to support the privatization of the public sectors and the expansion of austerity policies over the past 30 years. Hence, many countries are compelled to cut funding in sectors such as healthcare and education so that they can redirect these funds to debt payments. When things like this happen, the vulnerable population is the one that suffers the most. But when something specifically eccentric, like the Covid-19 pandemic, comes out of nowhere, one may witness the spread of this vulnerability throughout the entire world. This situation, what Tooze calls “organized irresponsibility”, exhibits how big the lack of institutional preparation is, especially in the West. The slogan for Davos 2020 being “Westlessness” is a great example of this. Shutdown: How Covid Shook the World’s Economy analyses to what extent the pan- demic affected the world economy. Tooze puts forward a most intelligent critique of spending hundreds of millions of dollars driven by interest rate variations http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Eurasian Geography and Economics Taylor & Francis

Shutdown: how COVID shook the world’s economy

Eurasian Geography and Economics , Volume 64 (7-8): 3 – Nov 17, 2023
3 pages

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References (3)

Publisher
Taylor & Francis
Copyright
© 2022 Candaş Ayan
ISSN
1938-2863
eISSN
1538-7216
DOI
10.1080/15387216.2022.2037094
Publisher site
See Article on Publisher Site

Abstract

EURASIAN GEOGRAPHY AND ECONOMICS BOOK REVIEW Shutdown: how COVID shook the world’s economy, by Adam Tooze, New York, USA, Viking, 2021, 368 pp., $17.04 (hardcover), ISBN 9780593297551; $25.08 (paperback), ISBN 9780241501771; $15.99 (eBook), ISBN 9780593297568 International trade and financial institutions have been in a position to support the privatization of the public sectors and the expansion of austerity policies over the past 30 years. Hence, many countries are compelled to cut funding in sectors such as healthcare and education so that they can redirect these funds to debt payments. When things like this happen, the vulnerable population is the one that suffers the most. But when something specifically eccentric, like the Covid-19 pandemic, comes out of nowhere, one may witness the spread of this vulnerability throughout the entire world. This situation, what Tooze calls “organized irresponsibility”, exhibits how big the lack of institutional preparation is, especially in the West. The slogan for Davos 2020 being “Westlessness” is a great example of this. Shutdown: How Covid Shook the World’s Economy analyses to what extent the pan- demic affected the world economy. Tooze puts forward a most intelligent critique of spending hundreds of millions of dollars driven by interest rate variations

Journal

Eurasian Geography and EconomicsTaylor & Francis

Published: Nov 17, 2023

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