In a matter of weeks, coronavirus has shuttered the global economy and placed capitalism in intensive care. Many thinkers have expressed hope that it will usher in a more humane economic system; others warn that the pandemic heralds a darker future of techno-totalitarian state surveillance.
The dated cliches from the pages of 1984 are no longer a reliable guide to what is to come. And today’s capitalism is stronger – and weirder – than its critics imagine. Not only do its numerous problems present new avenues for profit-making, they also boost its legitimacy – since the only salvation will be dispensed by the likes of Bill Gates and Elon Musk. The worse its crises, the stronger its defences: this is definitely not how capitalism ends.
However, the critics of capitalism are right to see Covid-19 as a vindication of their warnings. It has revealed the bankruptcy of neoliberal dogmas of privatisation and
— source theguardian.com | Evgeny Morozov | 15 Apr 2020