Guido Fawkes
Economic historian Dr Stephen Davies outlines the profound and lasting
effects of the coronavirus in a new video from the Institute of Economic
Affairs – GOING VIRAL: The history and economics of pandemics. Dr. Davies – Head of Education at the IEA – says history suggests the
pandemic will last up to two years and come in a series of waves – with
the second wave likely to be the biggest and most damaging. Likely
economic outcomes include massive falls in GDP, much higher inflation
and a massive debt crisis accompanied by a significant revaluation of
assets – and a retreat from globalisation and economic integration. At
the same time, creativity and adaptability will lead to innovation and
the intensification of trends such as online shopping and working from
home GOING VIRAL is accompanied by a report out today, outlining a number of steps that could mitigate future risk. You can read it here: iea.org.uk/publications/going-viral
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