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The Economic Impact of COVID-19

In the second half of this video, Dr. Stephen Davies from the British think tank Institute of Economic Affairs discusses the possible long term impact of COVID-19 on our lives. By studying the history of pandemics, Dr. Davies takes into account the political and economic discourses of our times in order to foresee potential prospects in the next months and years.

The following map helps you navigate through the video:

  1. [21:37] Economic Impact 1

    Massive supply-side shock

  2. [23:50] Economic Impact 2

    Normalisation of new trends
    Home working

  3. [25:03] Economic Impact 3

    Cause a sharp correction in asset values
    Destroy a lot of ‘wealth’
    Debt forgiveness

  4. [27:35] Economic Impact 4

    Reverse economic integration
    Reverse globalisation (in economic terms)

  5. [28:44] Political & Public Policy

    State economic interventionism & economic nationalism
    A revival of state ownership but a decline of regulation
    Major welfare reforms

  6. [30:43] Cultural Effects

    Two contrasting reactions:
    1. A move to seriousness
    2. A move to hedonism


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