Covid-10 crisis calls for a Copernican revolution
19 April 2020
According to billionaire Johan Rupert, speaking of the Covid-19 pandemic, “people speak as if this is just a blip, but I don’t think it’s like anything any of us have ever seen before, economists are discussing if it’s a ‘V-shaped curve’, or a ‘U-shaped curve’ — it’s all meaningless. What they don’t get is that this isn’t just a pause — it’s an entire reset of our economic system."
Rupert goes on to liken the period we have entered into in the global economic system because of Covid-19 to the circumstances that the world was confronted with during the Great Depression in the 20th century.
What are we to make of this? It is clear from the words of many experts, that the world as we truly know it is over post Covid-19, and what is now to be contested is what this new global economic order will look like, as the world emerges out of this pandemic in the near future.
For us South Africans, with our plethora of socio-economic challenges, Covid-19 presents a unique opportunity to try and reset our skewed economic order so that we can exhaustively deal with those three things that are the favourite phrase of most politicians’ speech writers: poverty, inequality and unemployment.