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(Hadalsame) 15 April 2020<\/strong><\/span> – There will never be a better opportunity to radically rethink the current economic and social model.<\/p>\n The Renaissance blossomed in Europe roughly five centuries ago. Priot to that, the continent had gone through the Middle Ages and been afflicted by the Black Death, which decimated its population. Today, the coronavirus<\/a> pandemic may be history’s way of offering something approaching a replica.It is too early to say how this replica will unfold, but it is important to start thinking about the day after the coronavirus crisis hopefully ends.Although many pundits say the world and globalisation will not be the same, now is the the time to shape this outcome, to avoid what the Sicilian Giuseppe Tomasi di Lampedusa warned against in his classic novel,\u00a0The Leopard<\/i><\/a>: \u201cEverything needs to change, so everything can stay the same.\u201d<\/p>\n This pandemic is providing many lessons. One of those is about the essence of leadership. It consists not only of inspiring and\u00a0reassuring others. It is not limited to effectively dealing with emergencies.\u00a0It is also, crucially, about\u00a0foreseeing future outcomes and planning accordingly, with the right lessons learned from past mistakes.\u00a0Another virus threatens\u00a0our societies: cognitive failure and the decline of historical memory. If in 2003, after the SARS epidemic<\/a>, the leading countries in pharmaceutical research had devoted time and resources to developing a vaccine<\/a>, today perhaps it would have been available and effective against the current coronavirus. Yet, at the time, the small number of infections and probably the predicted limited earnings did not stimulate such an effort; today, we understand how fatal that omission was.<\/p>\n The priority now is not only to revive the economy, but above all, to change how the economy and society have been managed<\/p><\/blockquote>\n World leaders are so consumed by their compulsive obsession with the present that they do not reflect sufficiently on the past or future. The priority now is not only to revive the economy, but above all, to change how the economy and society have been managed.Dramatic and unexpected events must be prevented and controlled, so they do not have the capacity to overwhelm us.The post-coronavirus period will be shaped by how some major challenges are dealt with. In reaffirming certain prerogatives of nation-states over wild and limitless globalisation, it will be important to avoid falling into crude and petty nationalism, where the step towards authoritarianism is often short (as in Viktor Orban\u2019s Hungary).<\/p>\n In tempering globalisation, cooperation between states and international institutions should be preserved, as they remain\u00a0essential tools for overcoming any emergency. Considering how much globalisation has blessed the web giants – including Facebook, Apple, Amazon, Netflix and Google – with huge profits, the time has come for them to become normal taxpayers<\/a>.For the world economy to be saved, additional resources must be leveraged, different wealth taxes levied, and tax havens eradicated, with the same determination used against terrorism.As fossil fuel prices dip, there will never be a better moment to divert investments towards renewable energy supplies.<\/p>\nThe essence of leadership<\/h3>\n
Missed opportunities<\/h3>\n