“Preise müssen sich frei bilden können (Prices Must Reflect Scarcity),” NZZ, 2020

NZZ, 2 April 2020. PDF.

The aggregate Covid-19 shock calls for transfers of the type a pandemic insurance would have brought about. But we must not distort relative prices. They have to reflect scarcity, to provide incentives to overcome it. (This applies within countries but also across.)