No, supply and demand will not change. The same goes for basic needs. People will always tend to look for their food, to crave sex, to take care of their children, to compete with each other for social status, to think about their health and to avoid pain. Clothing and shelter will also be among their basic necessities, so they will look for ways to satisfy them as best they can and faster.
But I am tormented by questions. What is happening in the economy? Why, despite the abundant money issued by the Central Banks, is inflation non-existent?
How much will savings with zero interest rates endure and therefore with the destruction of savings? What will happen to the dollar in an over-indebted and introverted America? In the age of algorithms and platforms, what is the perspective of entire service sectors such as retail, tourism, transportation, financial services and other similar activities?
Also, when we see that in the 250 years of industrial revolutions and related technological upheavals, life expectancy in the developed world has gone up three times and worldwide twice, what is the relation of man to time? As the average life expectancy approaches 100 years, what impact will this have on health, pensions, social security and economic development systems?
How many pandemics will a planet with 10 billion inhabitants face, what new viruses will it face and what new economic and social problems will it have to solve?
All the above questions and many more, I believe, are of great importance in the current phase of the pandemic, they simply do not fuel pessimism , in an era of profound and multifaceted change.
The author Matt Ridley rightly points out that "As the average age of a country's population increases, people become more and more neophobic and melancholic." After all, huge interests are invested in pessimism. No charity has ever raised donations saying things are going better. No journalist secured a place on the front page of a newspaper, writing that the chances of disaster have been reduced. Since good news is not even news, media megaphones are at the disposal of any politician, journalist or activist who can convincingly announce an impending catastrophe.. And so, pressure groups and their media clients are struggling to detect even the most positive statistics, even the slightest suspicion of a possible catastrophe. " Pessimism "sells", thus, is a major feeder of conspiracy theories and consequently breeds populism and related collective stupidity.
In the face of cosmogenic changes in the economy, social development and geopolitical balance, the real and vital issues for discussion and elaboration, at the grassroots level, are obscured precisely so as not to fall into the realm of public reflection. Consequently, demagogues and other ideological thugs avoid the reef of substantive debate and propose miraculous solutions, which never come.
In the fields of the production and distribution of wealth, much is said and written about inequalities, for example, about their deeper causes, but deafening silence prevails.
In this way, the envy of income is cultivated , without providing new information and analyzes on how it is produced. But these ways are changing dramatically. Starting with the coronavirus pandemic, the situation will take on unprecedented speed and the changes will be sweeping. Over the next ten years, the business and labor world will experience subversive structural change. Competitive ecosystems will have the upper hand in exports and will favor those who are the first to realize the magnitude and importance of change.
The pandemic will give enormous weight to the existence of human existence, a trend that will have historical significance for the economy. Because quite simply, the search for a better one will weaken the possessive.
Increasingly, says Professor Edgar Campana, who teaches psychology at Camilo Jose University in Madrid, "we will live in a world that seeks happiness at all costs. Being happy will be a purpose of life, but also a right and an obligation ... ".
The problem is that the pursuit of happiness is a matter of personal responsibility. Which means it's about to be the most delusional time of the year, as well.
At this level, therefore, new social controversies will manifest themselves . In any case, we are now well on our way to a new historical reality and it is important to understand it.
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