The Long-Term Economic Narrative Hasn’t Changed (Mar 24th, 2020)
Credit: Getty Images/iStockphoto https://medium.com/@iangkunsworth/the-long-term-economic-narrative-hasnt-changed-2464621f047d I find it almost too easy to get caught up with everything in the news. In the age of information, it’s virtually impossible to escape it. A constant bombardment of information can skew one’s perceptions in a drastic way when they aren’t careful, invoking fear, greed, pride, and plenty of other undesirable emotions. These emotions can be amplified with unexpected shocks like being laid-off from your job or watching your wealth decline as the stock market viciously sheds. When a “ Black Swan ” event like the COVID-19 epidemic emerges, you see many people react in a panicked manner, as people become conscious of the previously unforeseen risk. While this pandemic may be the largest nominal supply and demand shock the global economy has ever seen, we are still on course to enter the fourth industrial revolution and COVID-19 may be the catalyst