The Spanish Flu Didn’t Wreck the Global Economy
What Is Different About the Coronavirus Pandemic?
The liberal world order is in peril. Seventy-five years after the United States helped found it, this global system of alliances, institutions, and norms is under attack like never before. From within, the order is contending with growing populism, nationalism, and authoritarianism. Externally, it faces mounting pressure from a pugnacious Russia and a rising China. At stake is the survival of not just the order itself but also the unprecedented economic prosperity and peace it has nurtured.
The order is clearly worth saving, but the question is how. Keep calm and carry on, some of its defenders argue; today’s difficulties will pass, and the order is resilient enough to survive them. Others appreciate the gravity of the crisis but insist that the best response is to vigorously reaffirm the order’s virtues and confront its external challengers. Bold Churchillian moves—sending more American troops to Syria, offering Ukraine more