Without a laboratory at hand, economists have to draw lessons from past experience. It is tempting to compare two crises: the current one generated by the novel coronavirus disease (COVID-19), and the “Global Financial Crisis” (GFC). Some major economic similarities and differences as of end-April 2020 are summarized hereafter, while many aspects go beyond this analysis, whether psychological, political, social or basically…human.
Coronavirus
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Marc-Olivier Strauss-Kahn: Can we compare the COVID-19 and 2008 crisis
A picture taken on March 9, 2020 shows the Euronext Amsterdam stock exchange as the fear of an economic recession due to the negative impact of the coronavirus (COVID-19) and a price war in the oil sector are causing great unrest in the financial markets.
