A Crisis Like No Other: Will Covid-19 Change Capitalism?
A Crisis Like No Other: Will Covid-19 Change Capitalism?

Author(s): Gökhan Ak
Subject(s): Social development, Health and medicine and law, Economic development, Globalization, Socio-Economic Research
Published by: Transnational Press London
Keywords: covid-19 pandemic; capitalism; globalization; economic and social change;
Summary/Abstract: The aim of this research is to explore how the Covid-19 pandemic will likely affect and change the future paths and implementations of the capitalism which is universally the last and most effective economic system of the globe. The intention in trying to make an examination like this lies in the fact that a global crisis like Covid-19 pandemic seems to no other risks or threats that humanity faced since the end of World War II. The importance of this research lies in the crystal clear global situations that international relations and globalization will never be the same as they were once in the past after Covid-19 pandemic resolution. The methodology for this research will make use of applying the content and document analysis research techniques as well as hermeneutic approach by achieving literature survey through scientific books, articles, reports and thesis. Recent decades clearly showed up to international community that capitalism and globalization were in crisis. However, it seems likely that the Covid-19 pandemic could change it forever, in favor of workers and those in greatest need. The reason behind is that Covid-19 pandemic has put a magnifying glass over the many inequalities of the global economy and society. The World Economic Forum has already called for a “great reset” of capitalism. It’s emblematic of today’s capitalist society that groups of people get left behind, and it’s the job of policy makers to try to fix that. The possible findings of this research may recount that it will be hard to sweep all the global economic issues under the rug again when the pandemic is over since “We are pregnant with change,” as said by MIT economics professor Daron Acemoglu.

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