2021
DOI: 10.1002/soej.12488
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The political economy of theCOVID‐19 pandemic

Abstract: We argue that the policy response to the COVID‐19 pandemic by all levels of government around the world is not consistent with recommendations from standard welfare economics. Thus, it is important to ask why such policies have been adopted. That opens the door to examining the political economy of the COVID‐19 pandemic. This requires examining the incentives and information that confront policymakers and voters and the institutional environments that shape their incentives and information. This lead article f… Show more

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Cited by 83 publications
(34 citation statements)
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“…One lesson from the response to COVID-19 for other areas of public health is to support the construction of evidence to motivate collaborative action by highlighting (a) the relevance of collaboration among sectors to tackle other public health problems and (b) linkages between health policy and other areas of the economy. 33 Thirdly, an underlying motivation for the intervention of both sectors in the response to COVID-19 in the country, was that their actions could amount to further recognition and reputational legitimacy. In addition to a sense of commitment, there was competition within and among private organizations and universities for responding to the crisis using research, resources, infrastructure, or skills.…”
Section: Discussionmentioning
confidence: 99%
“…One lesson from the response to COVID-19 for other areas of public health is to support the construction of evidence to motivate collaborative action by highlighting (a) the relevance of collaboration among sectors to tackle other public health problems and (b) linkages between health policy and other areas of the economy. 33 Thirdly, an underlying motivation for the intervention of both sectors in the response to COVID-19 in the country, was that their actions could amount to further recognition and reputational legitimacy. In addition to a sense of commitment, there was competition within and among private organizations and universities for responding to the crisis using research, resources, infrastructure, or skills.…”
Section: Discussionmentioning
confidence: 99%
“…Thus, the government ended up giving in favor of firms, through the general increase in regulations, and against consumers, favoring the rise in electricity bills. Furthermore, the COVID-19 crisis forced the government of Spain to reduce premiums to the renewable energy industry, but political barriers to entry did not change [77,78]. This choice strengthened the legal oligopoly and intensified the tariff deficit, contributing to the 80% increase in the price of electricity for consumers in the last decade.…”
Section: The Case Of Spainmentioning
confidence: 99%
“…According to two commentators, "a political economy perspective challenges the assumptions of omniscience and benevolence of all actors-politicians, regulators, scientists, and members of the public-in response to the pandemic. We live in an imperfect world, populated by imperfect beings, who interact in imperfect institutional environments" (Boettke and Powell 2021).…”
Section: The Domestic Domainmentioning
confidence: 99%