Why do governments compensate for private capitalism’s failures in the military but compensate so much less in the medical industries? And when governments do compensate in the latter, why so differently, varying from much in some countries to little to almost nothing in others? Neoliberalism’s ideological power, varying from country to country, provides an answer.
In short, capitalism had built up vulnerabilities to another crash that any number of possible triggers could unleash. The trigger this time was not the dot-com meltdown of 2000 or the sub-prime meltdown of 2008-9; it was a virus. And of course, mainstream ideology requires focusing on the trigger, not the vulnerability.