Abstract:

The increasing the social and economic costs of the Covid19 pandemic, which has influenced the whole world economy since the beginning of 2020, has brought many systemic discussions with it. The inadequacy of the health infrastructure of many countries and the lack of inclusiveness of social security systems have shaken trust in public authorities. In addition, the measures applied to control the pandemic brought economies and global trade to a halt, increasing unemployment figures and income loss, increased criticisms of the established economic understanding. Alternatively, the established economic understanding is affected by the expectation of change in the world order during the pandemic. Especially the increasing protectionist policies and applied border closures questions the state of globalization, while the interventions of the state in the markets and the content of the recovery packages cause the liberal economic policies to be questioned. The opinions of some scientists about the end of globalization and liberal state understanding have started to take place in the literature. This study questions whether the basis of these opinions were sound or not and provides criticisms on the expectations on the change in the world order.

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