Bloomberg:
Every economic shock leaves a legacy. The deadly coronavirus will be no different.
The Great Depression spurred a ‘waste not want not’ attitude that defined consumer patterns for decades. Hyperinflation in the Weimar Republic still haunts German policy.
The Asia financial crisis left the region hording the world’s biggest collection of foreign exchange. More recently, the 2008 global financial crisis drove a wedge through mature democracies that still reverberates, with workers suffering measly pay gains in the decade since.
