Minouche Shafik for PS On Point: The Pandemic and Our Broken Social Contracts

Minouche Shafik shows why confronting problems like COVID-19 will require a broader political overhaul. [View this message in a web browser]( [PS On Point]( JANUARY 21, 2022 Behind frustrating, unnecessary problems like vaccine hesitancy lies a broader crisis of trust. The solution, argues Minouche Shafik, the director of the London School of Economics and Political Science, is to rethink the basic terms of the relationship between individuals, firms, civil society, and the state. [Read more](. On Point [The Pandemic and Our Broken Social Contracts]( [The Pandemic and Our Broken Social Contracts]( By Minouche Shafik Many of the norms and institutions underpinning contemporary society were forged in and for a bygone era, and now have created a mismatch between people's expectations and their reality. It is little wonder that the pandemic has highlighted the erosion of people's sense of mutual obligation and social trust. [Read more]( [PS Events: Generation Green. January 26, 2022. Register now.]( The Big Picture [Inflation Remedies]( [Inflation Remedies]( Featuring Jason Furman, Jürgen Stark, John H. Cochrane, and more With the rate of price increases in the United States and the eurozone currently at multi-decade highs, many argue that central bankers have been asleep at the switch. But is rapid monetary-policy tightening necessarily the most appropriate response to the current inflationary surge, and how can economists better anticipate the next one? [Read more]( Previously in On Point [What's Left of Cambridge Economics?]( [What's Left of Cambridge Economics?]( By James K. Galbraith Although mainstream economics has moved past the market fundamentalism of the 1970s and 1980s, it has yet to establish a new theoretical footing. One reason is that well-meaning reformers in the field continue to embrace the same false premises that they should be seeking to overturn. [Read more]( [Subscribe now to receive your copy of The Year Ahead 2022: Reckonings]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.