Intelligence Squared Coronavirus and the Economy: Your Questions Answered
Apr 17, 2020
Shanker Singham, a global trade expert, Ann Pettifor, a political economist, and Luigi Zingales, a finance professor, dive deep into the economic ramifications of the coronavirus pandemic. They discuss the potential longevity of the recession and the risk of exacerbated inequalities. The trio explores how the crisis might reshape global trade and government policies. From the need for innovative social systems to the importance of collaboration in rebuilding economies, they outline the transformative opportunities amid adversity. Their insights spark a thought-provoking conversation about the future of our economic landscape.
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Business Destruction and Recovery Shape
- Business destruction during the lockdown is unprecedented and will lead to a jobless recovery.
- The longer the pause, the less likely a V-shaped recovery becomes.
Policymakers' Role
- Policymakers must decide on the role of government in economic recovery.
- The private sector is being damaged, and government intervention through fiscal policy will shape the outcome.
EU's Dysfunctional Response
- Initial responses of EU member states to the crisis were dysfunctional, particularly regarding export restrictions.
- A drive for resilient supply chains and concerns about China's role are emerging.
