In this Study Group, we will consider some of the possible longer-term economic, social, political, and geopolitical impacts of the COVID-19 pandemic. Among the questions we will consider are: To what extent is the pandemic amplifying the digitalization and virtualization of the economy? Is the pendulum swinging back against globalization and is the nation state making a comeback? Will the aftermath of the pandemic worsen geopolitical fault lines? To what extent is income and wealth inequality being exacerbated? How will the macroeconomic policy framework evolve as the effects, good or bad, of the unprecedented monetary and fiscal stimulus become clear? Does the public policy response to the pandemic provide a template for how governments and societies will react to future systemic threats, such as climate change?
Background reading:Paul Sheard, 2020: “The Pandemic Will Transform the Global Economy and International Relations,” Interview in Japan SPOTLIGHT:https://jen.jiji.com/jc/eng_spotlight?k=spotlight0091Paul Sheard, 2021: “The economics of COVID-19,” Briefings for Britain:https://briefingsforbritain.co.uk/the-economics-of-covid-19/Paul Sheard, 2020: “A More Robust Macroeconomic Policy Framework Is Needed,” in Noel V. Lateef and Michael R. Auslin (eds), America in the World 2020, Foreign Policy Association Great Decisions Special Edition, pp.45-51
Speakers and Presenters
Paul Sheard, M-RCBG Research Fellow