COVID-19: Counting the Economic Cost
The year 2020 has been particularly difficult for the world, with the outbreak of CORONAVIRUS. Around the world, several policies have been implemented to combat the spread of the virus, most notably lockdowns or what has become known as The Great Lockdown. Countries have been placed on lockdown, either partially (in the case of United States and United Kingdom) or fully (in the case of Italy and India). We are beginning to see gains in the fight against the spread of the coronavirus. And some countries (such as China) are even beginning to open their economies once again. Now, even as we appear to be doing well on the medical front, there are unintended consequences from the lockdown impacting the global economy. Economic activities have come to a near halt since the lockdown, and some small businesses have even collapsed. In this episode on The Risk Experience Podcast, we discuss the economic impact of the coronavirus pandemic. Joining me to do that is a distinguished professor of Economics from the Carnegie Mellon University, CMU, Professor Sevin Yeltekin.