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The Covid-19 pandemic has fundamentally changed our lives over the last year. The socio-economic challenges are unprecedented: The world faces a historical health crisis, which is followed by a profound social and economic crisis. In addition, climate change keeps posing an existential threat to the planet and to the future of human civilisation itself. The idea that we can just go back to “normal” is a crucial mistake. In order to recover from the crisis, we need radical transformations to develop an economic system based on social justice, social inclusion and climate sustainability. This historic task cannot be left to ‘market mechanisms’, particularly given the fact that private actors have retrenched during the crisis. Such a transformation requires a major, coordinated and sustained public investment effort.
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