The impact of economic freedom on COVID-19 pandemic control: the moderating role of equality

Abstract

BackgroundThe absence of pharmaceutical interventions made it particularly difficult to mitigate the first outbreak of coronavirus disease 2019 (COVID-19). The current study investigated how economic freedom and equality influenced the pandemic control process.MethodsIn Study 1, we assessed the effect of economic freedom and equality on COVID-19 pandemic control from nations worldwide. We collected the cumulative number of confirmed cases over time to perform logistic curve fitting and obtain the speed at which the first wave of the pandemic was controlled, and partial correlation analysis and representational similarity analysis (RSA) were performed to assess the similarity between economic freedom and the speed of pandemic control. In Study 2, an evolutionary game model in which economic freedom affects the speed of pandemic control through optimization of the allocation of available resources was developed. In Study 3, we used experimental manipulation to elucidate the psychological mechanism relating economic freedom and resource allocation.ResultsThe economic freedom of nation could be used to positively predict the speed of pandemic control and the related similarity pattern. Equality was found to moderate the correlation and representational similarity between economic freedom and the speed of pandemic control. The evolutionary game model revealed a mechanism whereby economic freedom influences the speed of pandemic control through high resource availability. Furthermore, cooperation was found to be a possible psychological mechanism explaining how economic freedom increases resource availability.ConclusionsEconomic freedom has a positive effect on the control of the COVID-19 pandemic only among highly egalitarian nations. New interventions are needed to help countries heighten economic freedom and equality as they continue to battle COVID-19 and other collective threats.