"Ultimately the problem with economic orthodoxy lies in how it frames our values and priorities. Decisions must always be about trade-offs–the weighing up of costs against benefits, ideally measured through prices in markets. If we take our ignorance about the future seriously, this cost-benefit calculus should not even get started. Because costs outweighing benefits is the oldest excuse for not taking precautions–and is a recipe for disaster when the benefits, or the costs of inaction, are vastly undervalued."
Jonathan Aldred at The Guardian argues that the "pandemic has exposed the uselessness of orthodox economics."
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