In this essay, written from a broad economics perspective that incorporates an understanding of incentives, institutions, information, and power, we address the following three broad questions: (1) What were the roles and responsibilities of our institutions when faced with a threat like Covid? (2) What were the costs and benefits of the response that transpired? (3) What is the need and potential for institutional and social reform?
This report reviews the main issues that require investigation, cites examples of the bias and censorship, presents a timeline of pro-lockdown media coverage, and suggests an agenda for more extensive investigation. The authors hope this report can serve as a useful guide for a deeper look into this unprecedented use of media power to shape the pandemic response.
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