Intelligence Squared The Corona Crash: How Bad Will It Be? With Mark Blyth and Anne McElvoy
May 8, 2020
In this engaging discussion, political scientist Mark Blyth, a professor at Brown University and co-author of 'Angrynomics', teams up with Anne McElvoy from The Economist. They delve into the economic consequences of the COVID-19 pandemic, weighing how lockdowns might reshape our economic landscape. The duo explores the challenges of restarting economies while prioritizing public health, critiques the impact of globalization, and examines how the crisis could lead to a reevaluation of governance practices. Their insights promise to spark thought-provoking discussions about our future.
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Lockdowns and Consumption
- Supporting consumption is crucial, even if minimal, to prevent corporate failures.
- Prolonged lockdowns may lead to behavioral changes like increased precautionary savings.
Economic Sustainability
- Social distancing flattens the curve but prolongs the economic downturn.
- The US can likely sustain economic support longer due to dollar demand and low inflation.
Ireland vs. Greece in Crisis
- Ireland accepted the narrative of collective responsibility for the 2008 crisis, enabling austerity measures.
- Greece, lacking this narrative, experienced more social disruption.
