Odd Lots

What The Black Death And Spanish Flu Can Tell Us About What Comes Next

Jun 22, 2020
Jamie Catherwood, known as the "Finance History Guy," shares fascinating insights into how historical pandemics like the Black Death and Spanish Flu can inform our current economic landscape. He discusses the socio-economic impacts of past crises and how certain industries flourished while others struggled. The conversation dives into labor dynamics post-Black Death, revealing how surviving workers gained leverage, and explores the long-term implications of these historical lessons for today's retail and economic policies.
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ANECDOTE

1918's Amazon Effect

  • During the Spanish Flu, Sears and Montgomery Ward saw increased sales.
  • This "Amazon effect" shows how people turned to mail-order catalogs during lockdowns, mirroring today's online shopping trends.
ANECDOTE

Mattress Boom

  • Mattress sales spiked 40% during the Spanish Flu due to doctors prescribing bed rest.
  • Other sectors, like groceries, saw declines, highlighting the uneven impact of pandemics.
INSIGHT

Swift Rebound

  • The Spanish Flu's economic impact, though initially severe, was short-lived.
  • A quick bounce-back followed, with some businesses exceeding pre-pandemic sales figures.
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