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The Pandemic Depression
Article

The Pandemic Depression

The Global Economy Will Never Be the Same



Editorial Rating

7

Qualities

  • Overview
  • Visionary
  • Hot Topic

Recommendation

Coronavirus has turned the world upside down, ravaging economies and challenging fiscal and monetary officials as never before. Noted economists Carmen Reinhart and Vincent Reinhart posit that the aftermath of this global crisis will be long and hard, reshaping society’s long-held convictions and expectations. Their sobering assessment, which comes with few remedies, offers executives and analysts a steely-eyed look at what the future could hold.

Take-Aways

  • COVID-19 is shrinking global economic growth precipitously.
  • Recovery from the pandemic will be slow and uneven.
  • Society will feel the knock-on effects of the coronavirus for years to come.

About the Authors

Carmen Reinhart is chief economist at the World Bank. Vincent Reinhart is BNY Mellon’s chief economist and macrostrategist.