Economic recovery will come with high levels of unemployment: how should governments respond?
Two key factors distinguish the economic consequences of coronavirus from those of previous crises.
One is the catastrophic decline in employment in such a short space of time. The other is the incredibly swift digital transformation which has changed the way society works and consumes.
In this new digital landscape, as well as a widespread shift to home working, the resurgence of e-commerce and even the remote provision of healthcare have become facts of everyday life.
In effect, the credit for the rapid digitising of most companies does not belong with business leaders – but to the arrival of Covid-19.
Any exit from the current lockdown is likely to reverse some of this digital transformation, but not all of it.
And the unprecedented scale of what has happened will have a significant impact on employment levels for a long time – even as economies rebuild...
He co-authored the article with Professor Gulcin Ozkan, of King's College London, and Dr Richard McManus, of Canterbury Christ Church University.
Read the piece in its entirety here.
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