Source: The Economist

The World Has Stopped: Social And Economic Impacts of Coronavirus

Fear of The Unknown

As the coronavirus continued to spread around the world, there is a lot of uncertainty as to how and when the epidemic is going to end. However, it is already causing major disruptions to our daily lives: people are working from home, schools are closed, the NBA suspended its season and the list goes on.

To make it worse, people are hoarding. In response to the run on certain items such as toilet paper and hand sanitizer, major retailers have imposed some purchase limits.

It is hard to predict how the coronavirus epidemic will end. As more countries are on lockdown, the world is taking a puase. To get a glimpse of what might be coming next, below are some of the economic and social impacts we are already seeing with the coronavirus outbreak.

Work From Home (WFH)

Many tech companies such as Amazon, Apple, Facebook, Intel, Microsoft and Twitter, have already asked their employees to work from home to help prevent the spread of the novel coronavirus. Many schools and universities are closing. Even Congress is planning to direct Capitol Hill staffers to work from home. Read More...