The Political Economy of Covid-19: Covid-19, Inequality and Government Responses

The Covid-19 pandemic has had a significant impact on the economy, with output and employment declining, inequality increasing, and public policy responses being implemented. This book brings together research published in 2021 that analyzes the impact of the pandemic on the economy, and calls for a greater reset to address climate crisis, income and wealth inequality, and avoid future global financial crises.

Format: Hardback
Length: 344 pages
Publication date: 18 August 2022
Publisher: Taylor & Francis Ltd

The Covid-19 pandemic has had a profound and far-reaching impact on the world economy, affecting output, employment, inequality, and public policy responses. It has been described as the greatest public health crisis of the past century, comparable to the 'Spanish Flu pandemic of 1919. While the full economic cost of the pandemic is still uncertain and will continue to accumulate over time, it is already clear that it will be one of the most significant global economic shocks in history.

This comprehensive book brings together research published during 2021 that examines the various facets of the pandemic's economic impact. Some chapters focus on specific countries, while others compare different countries' responses and analyze the global economic consequences.

Even before the pandemic, there had been calls for a "great reset" in response to climate change, growing income and wealth inequality, and the need to prevent future financial crises. The pandemic has only reinforced the urgency of such a reset, and the need for it to be even more significant.

The chapters in this book were originally published as special issues in the journal International Review of Applied Economics. They provide a comprehensive analysis of the economic challenges and opportunities posed by the pandemic, and offer insights into the policy responses that have been implemented to address them.

The impact of the pandemic on output and employment has been significant. Many industries have been forced to shut down, leading to a sharp decline in economic activity and a rise in unemployment. However, some sectors, such as healthcare and technology, have experienced growth as demand for their products and services increased.

In terms of inequality, the pandemic has exacerbated existing disparities. Wealthier individuals and corporations have benefited from government support programs, while lower-income workers and small businesses have been left behind. This has led to increased social unrest and calls for more equitable distribution of resources.

Public policy responses to the pandemic have varied widely across countries. Some governments have implemented large-scale fiscal stimulus packages to support businesses and individuals, while others have focused on lockdowns and social distancing measures to control the spread of the virus.

Overall, the Covid-19 pandemic has been a devastating economic crisis that has impacted people and communities around the world. It has highlighted the need for a coordinated global response to address the economic, social, and environmental challenges we face. The chapters in this book provide valuable insights into the pandemic's economic impact and offer suggestions for building a more resilient and sustainable future.

Weight: 820g
Dimension: 246 x 174 (mm)
ISBN-13: 9781032309576