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22 April 2020updated 29 Apr 2020 11:08am

The coronavirus pandemic shows why the West must transform its economic logic

We must end our dogmatic reliance on global supply chains and adopt “just-in-case” thinking.

By Robert Skidelsky

One of the things the Covid-19 lockdown got me thinking about was Noah’s Ark. Remember the original: God vowed to destroy mankind with a great flood because of its wickedness, but told Noah and his family to self-isolate themselves in an ark – a substantial building with three stories – with enough food for a long stay; to bring in two specimens of every living and creeping thing; and to stay put till the flood had subsided.

Noah and his clan isolated themselves seven days before the flood started. The flood peaked in 40 days. As the waters receded, the lock-up instructions were gradually relaxed and, in a further two months, it was safe for Noah and his family to go out again and resume their normal lives. Everyone and everything on land that had the “breath of life” had died.

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