economics

Ariela Kluk

Mr. Roddy

IHSS

02/03/21

One of the most important things about the economy that most people don't think about is the concept of“damage”: The downside of economic policies affects people emotionally. This is why most experts use 2 variables when evaluating the response a country has to Covid-19. The pandemic has caused a lot of damage to the economy. At the beginning of the pandemic, people started canceling their plans and reservations, and it has now been one year with people having to stay at home. However, there is a solution. Envision, which is the vaccine, but it is unlikely for everyone to have it by at least the summer of 2021. So the recovery is very different from what people imagined. Businesses thought that they were only going to have to shut down for a few weeks or at most a few months, but as seen covid-19 has continued for much longer. The government has had to overcome a very difficult challenge which is operating during the pandemic for over a year. Not only is the government having to face challenges but lots of small businesses have been completely shut down. The pandemic has been very difficult on everyone. Lots of workers thought that this would be short-term, but they have had to pay for the education of their children and food and maintain their lives for almost an entire school year without their jobs. The total number of employed workers went down 10 million which is over 7% since February. 

The damage that covid-19 is doing to our economy is devastating. Starting with President Trump, when the economy started to drop, a lot of the workers in the United States became unemployed. Trump's weak response to the pandemic has brought the United States to one of the worst economic situations it has ever had since the Great Depression. This also has led so many citizens to die because of the weak public health response. Now we have President Biden and vaccines are out, so hopefully, the pandemic will come to an end and the economy will get stronger. This pandemic has affected our economy so much and has brought so many challenges among the people of the United States. Unemployment and lower wages have made it harder for people to sustain a healthy mental mind, stay educated, pay for food and their houses, and just overall continue to live their lives. The economic forecast thinks that in 2021 more vaccines will be out and hopefully our economy will grow back stronger than it was before. I personally don't know a lot about the economy but I'm hoping that our economy does get better because right now it is affecting so many people's lives. 

All of these things that I'm talking about are called “the damage”  and there are lots of people researching what it’s done during this pandemic. The United States is not isolated, especially in terms of the economy. We do business with other countries and only the wealthiest countries. This means that the wealthier countries will have access to vaccines this year, meaning that the parts of our economy that depend on other countries are going to take longer to return to normal until said countries are vaccinated. They will continue to be weak until they too complete caring for their population. I hope president Biden activates plans thinking of the economy on a global scale. I think that now that he is president and vaccines are already out to teachers and senior citizens, the economy will slowly but surely be going back to the new normal.  



Work Cited 

“United States Economic Forecast.” Deloitte Insights, www2.deloitte.com/us/en/insights/economy/us-economic-forecast/united-states-outlook-analysis.html. 



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