What can we learn from the UK's response to Covid-19? | Mohamed El-Erian
Political short-termism and classic behavioural traps have both contributed to policy U-turns
Boris Johnson's recent warning that the lifting of England's third lockdown will be no great open sesame", despite the fall in infections and the encouraging progress of the Covid-19 vaccination programme, should come as no surprise to anyone who has been following the underlying dynamics of the virus. So why did Johnson's government not take this approach during the first two lockdowns?
Although some remain inclined to point the finger at the government's missteps, the explanation is more complex. It also holds important lessons for managing future crises.
Mohamed El-Erian is chief economic adviser at Allianz. He served as chair of Barack Obama's Global Development Council and is a former deputy director at the IMF.
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