“The old phrase, ‘Whatever doesn’t kill you makes you stronger’ — I think applies in spades to the economy in the aftermath of this pandemic,” says MIT economist Andrew Lo in this Knowable Magazine original video. Lo explores the immediate financial impacts of Covid-19 on the economy, comparing that with what happened in the 2008 Financial Crisis and during the 1918 influenza pandemic. He explains the different effects seen on Main Street and Wall Street, and discusses why, despite the hardships, the overall economy remains strong and may even flourish in the years following the pandemic.
READ MORE: 2008 Financial Crisis: A Ten-Year Review, a special article collection from Annual Reviews
This video is part of Reset: The Science of Crisis & Recovery, an ongoing series exploring how the world is navigating the coronavirus pandemic, its consequences and the way forward. Reset is supported by a grant from the Alfred P. Sloan Foundation.
Disclosure: Andrew Lo is coeditor of the Annual Review of Financial Economics and a member of the Board of Trustees of Annual Reviews, which publishes Knowable Magazine.
10.1146/knowable-040821-1
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