Bill Mitchell: The coronavirus crisis is just exposing the failure of neoliberalism

Each time this modern variant of financial capitalism gets ahead of itself, the main players – who are usually content pocketing excessive profits – always come running back for life support from the state.

The privatise the gains, socialise the losses story. Repeated.

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A view in Monaco with yachts moored at Port Hercules during the 22th edition of the International Monaco Yacht Show. The Monaco Yacht Show is considered the most prestigious pleasure boat show in the world with the exhibition of 500 major companies in the luxury yachting and a hundred super and megayachts afloat. The event runs until September 22. (Valery Hache/Getty Images)

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