The less agile and adaptive a society is, the more severe its impotence in a crisis. Thanks to an obsessive reliance on monetary policy to fix every problem, our society has increasingly abandoned innovation and productivity.
Despite the fact that the CDC’s formal name includes the word “Prevention” and that its stated goals include various planning buzzwords, its managing of the COVID-19 response has been an unmitigated disaster.
Eurocrats might be able to get tables in their favoured restaurants more easily while national governments take it on the chin. But this is a temporary situation which could easily evolve into a threat against the union.