Roman Pilipey/Shutterstock HONG KONG ( Project Syndicate) – In 1960, the Nobel laureate economist Ronald H. Coase introduced the “problem of social cost”: human activities often have negative externalities, so individual rights cannot be absolute. Institutions must intervene. There is no better example of this dynamic than the COVID-19 crisis. While virtually …
Read More »Project Syndicate: How the East Asian mind-set succeeded with the coronavirus when Western individualism failed
