Coronavirus Pandemic And Economy Crisis

Running head: ECONOMICS
Capitalism in Covid-19
Name of the Student
Name of the University
Authors Note
Course ID

ECONOMICS1
Table of Contents
Introduction:...............................................................................................................................2
Discussion:.................................................................................................................................2
Conclusion:................................................................................................................................4
References:.................................................................................................................................5

ECONOMICS2
Introduction:
The coronavirus pandemic has not only claimed several lives but is a new economic
headache which will have a severe outcome when the situation is bought under control. Just
like the fall of Berlin Wall or the collapse of Lehman Brothers, the coronavirus pandemic is
regarded as world-shattering event whose wide reaching magnitudes can only commence to
image today.
Discussion:
The outbreak of “Covid-19” has created a dramatic new stage in the “global
capitalism”. The major shockwave to the world’s financial and economic system involves the
identification which the global supply chains and networks of distribution are intensely
exposed to interruption (Jones 2020). The “Covid-19” pandemic would not only create a
long-lasting economic impact but would also result in a significant fundamental change. As
evident from the scale of financial market losses the world has experienced since February,
companies are very likely to come-out from this pandemic decidedly gun-shy regarding the
just-in-time model and regarding globally dispersed production (Baldwin and Tomiura 2020).
The outcome can be very dramatic in global stage where supply chains are brought close to
home and filled with redundancies in order to protect against the future disruption. This may
impact the profits of the company but would render the overall system more resilient.
Considering the dynamics of capitalism majority of the cutting-edge model of
contemporary capitalist consumerism is not possible to operate within the present condition.
Workforce in major parts of the world are socialized to behave as a neoliberal subjects
(Ramelli and Wagner 2020). It can be greater than a year and the longer it may take, the more
will be the deflation, together with the labour force. The level of unemployment would surely