It is very important to understand the lessons learned from this crisis.
The first lesson is that we should not give more power to governments that have been completely unable to prevent and manage the pandemic.
We need to understand that if we implemented the measures and the policies that the left-wing parties propose, massive government intervention, what we would have in this crisis would not be just a healthcare problem.
We would have shortages of supplies, we would have rationing.
This crisis shows that more government intervention is not the solution, but this crisis also shows that the way in which governments have addressed the pandemic proves why it is so dangerous to give them more power: Incompetence, lack of adaptability, constant use of propaganda to try to disguise the facts and even repression when citizens complain.
The idea that shutting down the economy was going to be insignificant and generate no harm could only be something created by a bureaucrat and the idea that the recovery is going to be strong with more government intervention can only come from someone that has never created a job.
Daniel Lacalle is one the most influential economists in the world. He is Chief Economist at Tressis SV, Fund Manager at Adriza International Opportunities, Member of the advisory board of the Rafael del Pino foundation, Commissioner of the Community of Madrid in London, President of Instituto Mises Hispano and Professor at IE Business School, London School of Economics, IEB and UNED. Mr. Lacalle has presented and given keynote speeches at the most prestigious forums globally including the Federal Reserve in Houston, the Heritage Foundation in Washington, London School of Economics, Funds Society Forum in Miami, World Economic Forum, Forecast Summit in Peru, Mining Show in Dubai, Our Crowd in Jerusalem, Nordea Investor Summit in Oslo, and many others. Mr Lacalle has more than 24 years of experience in the energy and finance sectors, including experience in North Africa, Latin America and the Middle East. He is currently a fund manager overseeing equities, bonds and commodities. He was voted Top 3 Generalist and Number 1 Pan-European Buyside Individual in Oil & Gas in Thomson Reuters’ Extel Survey in 2011, the leading survey among companies and financial institutions. He is also author of the best-selling books: “Life In The Financial Markets” (Wiley, 2014), translated to Portuguese and Spanish ; “The Energy World Is Flat” (Wiley, 2014, with Diego Parrilla), translated to Portuguese and Chinese ; “Escape from the Central Bank Trap” (2017, BEP), translated to Spanish. Mr Lacalle also contributes at CNBC, World Economic Forum, Epoch Times, Mises Institute, Hedgeye, Zero Hedge, Focus Economics, Seeking Alpha, El Español, The Commentator, and The Wall Street Journal. He holds a PhD in Economics, CIIA financial analyst title, with a post graduate degree in IESE and a master’s degree in economic investigation (UCV).