"In the same vein, the aftermath of the Covid crisis could be much more government intervention. The intellectual groundwork for a government financial splurge was laid by a once-fringe economic school of thought known as modern monetary theory. Covid put it into practice—quite rightly, given the disastrous state of the economy. Central banks have turned from inflation hawks into advocates of more spending, and are willing to finance it. More spending brings with it the need to prevent abuse of the money, easing the politics of new regulations."