Because the economy after Covid will no longer be the same as before

March 21, 2021 – 15:00

The pandemic has affected some sectors more than others. This has led to strong asymmetries that could last over time. It has also accelerated a series of transformations, from smart working to the automation of production processes

of Valentina Iorio

The Covid-19 pandemic has pushed the global economy into worst recession since World War II. Vaccine development and supportive policies will foster recovery, which, however, will be at different speeds. In fact, the coronavirus has not affected all countries in the same way and the responses to the crisis are also different. The pandemic in ten years’ time will likely be seen as an accelerator of a change that was already underway. There has been an acceleration and we will see it, says Vincenzo Galasso, full professor of political economy at the Bocconi University in Milan.

The vaccine will pave the way for recovery, which in some cases may be even stronger than in the pre-Covid period. However, some transformations, from smart working to the increase in automation, are destined to last over time. Inequalities, exacerbated by the pandemic, will become more evident in the long run. Furthermore, there is the risk that the expansionary monetary policy, essential to overcome the crisis, will favor the survival of zombie companies. Workers must be supported but not all companies can be supported – says Elena Carletti, full professor of finance at Bocconi University -. what will have to be done is really an epochal change of an entrepreneurial nature.

March 21, 2021 | 15:00

© Time.News

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