Am I cynical? Yes. But falling in self complaint is not my style. Baron Rothschild, an 18th-century British nobleman and member of the Rothschild banking family, is credited with saying that “the time to buy is when there’s blood in the streets». He made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon.
The Corona pandemic is a world war with global economic consequences. The poet Dylan Thomas wrote, “do not go gentle into that good night”. He was speaking of old age and abandoning life. The same can be said of people who rest in economic despair. The virus hasn’t killed the economy, but it did change it and every change brings opportunities for those who provide goods and services adjusted to a new reality.
The new economy needs to provide individual entertainment, social interaction without physical contacts and delivery of all kinds of goods. E-commerce was thriving before the pandemic, when the dust sets, it will be the main channel for sales. E-health and telemedicine will grow rapidly. On macroeconomic level, governments will launch infrastructural works to relaunch the economy. The end of an era is the beginning of a new one. Don’t go gentle into the night, but rage towards the new world emerging.
Alexander Zanzer Ph.D421