ElyaDatabase ID Number: M098
Creator: Muhammed El-Sayed ’22 Electrical and Computer Engineering
A pandemic often inspires strong regulatory action in response, and COVID-19 was no different. Yet, as the pandemic spread, it was commonplace for governing bodies to decrease safety precautions as a result of their economic impact. This study aims to analyze the validity of those arguments while also drawing comparisons to the Black Death, a pandemic with severe economic effects. It is apparent that the overall economic impact on the US as a result of COVID was negative, whether it be in terms of GDP or unemployment rates. To draw a parallel, the issues in supplying many products that were in demand was a consequence of both pandemics. Nonetheless, as will be shown, just like how the Black Death helped lead to the demise of the feudal system, there has been a subtler shift in the economic hierarchy in the US. Those suggesting the suspension or removal of safety precautions in pursuit of monetary gain will find less support as the reality of the rate of economic recovery is shockingly quick. Furthermore, some industries that had implemented certain measures that benefited their employees, such as working remotely, will now be more commonplace. The similarities between the Black Death and the COVID-19 pandemics will help serve to estimate the long-term effects of the current day economic situation.
Cite This Work :
Muhammed El-Sayed, “Disease and Economy.” Scale: 1:70,000. In Elya J. Zhang, ed., Mapping History Series.<https://elyadatabase.com/2021/08/02/average-change-in-gdp-in-the-u-s/> (accessed May 27, 2022).