Victor Llorente / The New York Times / Redux
Victor Llorente / The New York Times / Redux
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The Real Pandemic Danger Is Social Collapse

The Real Pandemic Danger Is Social Collapse

As of March 2020, the entire world is affected by an evil with which it is incapable of dealing effectively and regarding whose duration no one can make any serious predictions. The economic repercussions of the novel coronavirus pandemic must not be understood as an ordinary problem that macroeconomics can solve or alleviate. Rather, the world could be witnessing a fundamental shift in the very nature of the global economy.The immediate crisis is one of both supply and demand. Supply is falling because companies are closing down or reducing their workloads to protect workers from...

March 19, 2020
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