Economist Richard Wolff discusses economy’s role in fighting COVID-19 – msnNOW


a group of stuffed animals: Economist Richard Wolff discusses economy's role in fighting COVID-19

© Getty Economist Richard Wolff discusses economy’s role in fighting COVID-19

Economist Richard Wolff told Hill.TV that the United States must change its economic system in order to recover from the coronavirus recession.

Wolff argued that companies did not produce personal protective equipment (PPE) because it was not profitable to make and store them in advance.

He added that the government could have purchased PPE and used taxpayer money to store them in the same way they purchase and store military equipment.

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“We have to face that what we do for the military when there isn’t any war present, we didn’t do for public health is now the greater danger to us,” said Wolff, author of “The Sickness in the System: When Capitalism Fails to Save us from Pandemics or Itself.”

According to the House Oversight and Reform Committee, 11.7 million N95 masks and 7,920 ventilators have been distributed nationwide, only 1 percent and 5.7 percent, respectively, of the estimated equipment needed.

“A private profit system isn’t the way to handle public health,” Wolff said.

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Author: The Covid-19 Channel