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The economy under the pandemic and afterwards

Author

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  • Alexander A. Auzan

    (Lomonosov Moscow State University, Moscow, Russia)

Abstract

The article deals with the peculiarities of the current global economic crisis and discusses whether the crisis can give an impetus to a new development model. The author emphasizes that as the crisis is caused by external shock (the pandemic), it is very different from other types of economic crises and can be followed by serious civilizational consequences. The pandemic is the price for globalization. During the crisis, governments face an unsolvable dilemma: saving lives or preserving the economy (that is, future lives), with a significant credit of trust of the population. In such a period, a society has a chance to improve the path of its development (get out of the path dependence). In particular, the author discusses institutional changes needed in contemporary Russia to make this happen, namely the tax system revision and the law enforcement agencies reform.

Suggested Citation

  • Alexander A. Auzan, 2020. "The economy under the pandemic and afterwards," Population and Economics, ARPHA Platform, vol. 4(2), pages 4-12, April.
    • Handle: RePEc:arh:jpopec:v:4:y:2020:i:2:p:4-12
    DOI: 10.3897/popecon.4.e53403
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    Cited by:

    1. Cleginaldo Carvalho & Larissa Miki Ishikura & Iris Braga Silva & Matheus Marinho Arruda & Tainá Luciene Garcia dos Santos & Rafael Godoi Cutait, 2023. "Evaluation of companies (Magazine Luiza SA) and investments in the E-commerce area during the Covid-19 pandemic period," Technium Social Sciences Journal, Technium Science, vol. 41(1), pages 130-146, March.

    More about this item

    Keywords

    COVID-19 globalization pandemic economic crisis path dependence;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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