Author: Stavros D. Mavroudas, Professor of Political Economy Panteion University Department of Social Policy
«Today, humanity is in the throes of a coronavirus pandemic resulting in a huge health crisis. At the same time, however, the global economy is entering a recessionary path that is now characterized as economic crisis from almost all sides. So, it is justified to talk about a double crisis, both health and economic. Obviously, the former has immediate priority as it involves massive loss of human lives. But in addition to its direct impact on human lives, it also has major economic implications. These economic implications have important consequences for social well-being, and this also have indirect – though not directly fatal – health effects.
A first question is how the health and economic crisis are linked. They are obviously intertwined; but are they identical or not? And more specifically, is the health crisis the cause or just the excuse of the economic crisis?»