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Recession, Financial Instability, Social Inequality and the Health Crisis

Gregorio Vidal

Review of Political Economy, 2021, vol. 33, issue 4, 711-724

Abstract: Advanced economies and several emerging market economies have had poor production growth for years. The problem has been address by economic and financial organizations. Faced with this, economic policies have been implemented to allow market mechanisms to operate and, to promote productive activity, including extraordinarily loose monetary policies. Central bank and government actions in the context of the pandemic are an extension of such previously applied policies. In the past, after the international financial crisis of 2008–9, these measures allowed banks to recover and for large companies to rely on significant profits. However, there was no significant growth in investment, let alone policies attempting to reduce social inequality. Such trajectories have gained strength during the pandemic.

Date: 2021
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DOI: 10.1080/09538259.2021.1943933

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