Economic, social and political impacts of covid-19 please written in different paragraph economics , social and political
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This article contributes to the assessment of public policies to control the incidence of COVID-19 in several ways. (1) It contains a brief historical and comparative overview of selected pandemics, particularly in relation to the COVID-19 pandemic; (2) It provides a simple original model which could be used to prioritize the admission of COVID-19 sufferers to hospital (taking into account available hospital capacity) and (3) it specifies a second model to evaluate desired social choices involving the trade-off between the severity of social restrictions (taking into account their impact on the incidence of COVID-19) and the level of economic activity. Bergson-type welfare functions are utilized in the second model. It also critically examines the proposition that the isolation (lockdown) of social groups is a desirable method of limiting the incidence of COVID-19. This leads onto the consideration of the extent to which personal freedom of choice (liberty) ought to be restricted in response to the COVID-19 pandemic. A brief outline follows illustrating the factors that are likely to hinder economic recovery from COVID-19. Particular attention is paid to the moral and ethical questions raised by policies to control COVID-19. These appear to have received little attention in the relevant economic literature.
The presence of highly infectious diseases which have become pandemics, such as COVID-19, create serious health and economic problems because of various global social and environmental transformations which have occurred as a result of economic development. As a consequence of economic development, the world’s population has become increasingly urbanized and concentrated in large cities and as well, the global level of the human population has risen manifold since the beginning of the Industrial Revolution. The density of human populations is greater than ever. In addition, the mobility of humans in all geographical dimensions has increased tremendously. These factors facilitate the outbreak of new infectious diseases and their spread. This is especially evident in the case of the coronaviruses, such as different strains of influenza and more recently, COVID-19. The incidence of COVID-19 involves an environmental health issue because its occurrence depends on the state of the surroundings of individuals.
Developments like economic activity exacerbate the problem of controlling new infectious diseases which are transmitted as a result of human contact and presence. Increased economic specialization and greater division of labor accompanied by the expansion of markets and growing economic globalization increase the risk that individuals will come into contact with sources that facilitate the occurrence of highly contagious diseases such as influenza and COVID-19. The adverse economic consequences of new forms or types of these diseases can be severe given the high degree of interdependence in economic activity in modern economies. For example, the absence of workers from work due to such infections, or the risks of these infections, can disrupt production at the workplace level. As well, supply chains are liable to be broken or disrupted by these pandemics, and in addition, they usually have negative effects on the aggregate demand for commodities. This is evident from the COVID-19 outbreak which has resulted in a major worldwide economic depression.
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