Double-digit unemployment and some permanent job losses are among the long-term consequences of Covid-19. But there is one positive side of the crisis, says Hank Paulson, former secretary of the US Treasury: The pandemic has laid bare the structural deficits that define us at the moment — deficits that we can attack and resolve. In this wide ranging conversation with Gillian Tett, editor of the Financial Times, Paulson unpacks the merits of carbon dividends, regulatory reform, a domestic Marshall Plan, and the importance of a new commitment to international economic cooperation.