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by tyingq 2280 days ago
I believe in a bounce back also, but I don't think we will bounce back to the same state. A couple of examples...

Many companies will have figured out how to run leaner. So post recovery, they may not bring back everyone that was laid off. Lean is good, of course, but unemployment isn't.

Competition will go down. Not every company in every space will survive. So things will consolidate down to the survivors. This probably hits small businesses especially hard. Again, Darwinism isn't inherently bad, but it could, for example, drive wages down.

In short, whatever emerges will not be what we had, and will take some time to adjust to.

1 comments

That’ll look like a good case for UBI if we go down that route of leaner businesses. Also given that a reduction in consumption was needed short term for climate it might have indirect middle long term positive effects.
A situation like this one may actually speed up the need for many business to digitize their business models.