The words nationalism and patriotism are commonly bandied about to describe people’s entrenched political commitments, and both labels have made frequent appearances in the run-up to next month’s US elections.
A recent poll found that one in three Americans would not be willing to receive a COVID-19 vaccine, while anti-vaxxers have reportedly gained at least 7.8 million new social media followers since 2019.
Having long been buttressed by ample liquidity, financial markets are entering the final quarter of 2020 amid an increasingly tentative global economic recovery, unusual political uncertainties, and lagging fiscal and structural policy responses.
Governments have responded to the COVID-19 pandemic and the social and economic disruption it has wrought with a range of ad-hoc schemes, including paid furloughs, cash transfers and family support. While commendable, these responses share two major limitations.