What Next for the Post CovidCovid Global Economy: Could Negative Supply Shocks Disrupt Other Fragile Systems?

William White
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William White: C.D. Howe Institute

A chapter in Fault Lines After COVID-19, 2023, pp 13-35 from Springer

Abstract: Abstract Sustainable, inclusive growth in a free society requires well-functioning economic, environmental, public health and political systems. Each of these complex, adaptive systems is currently under severe stress and a “cascade” of tipping points is plausible. This chapter focusses specifically on the potential for spillovers from the economic to political spheres. There are currently many indicators of global economic and financial fragility, including the recent increase in inflationary pressures. Future negative supply shocks could trigger another crisis, characterized by either outright deflation or high inflation. The popular dissatisfaction arising from such developments could lead to a renunciation of democratic processes, already under threat. The chapter finishes with suggestions about policy measures that might promote both economic and political stability. Unfortunately, they will not be easily accepted.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-26482-5_2

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DOI: 10.1007/978-3-031-26482-5_2

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