Post
Topic
Board Economics
Re: Difference between past and present economy,
by
Marvell1
on 07/09/2024, 04:01:54 UTC

The COVID-19 pandemic may not be the only pandemic that have hit the world but it's devastating effect did change many things and activities around the globe, the challenges it created are still felt, ranging from work engagement, social relations and the macro economy performance. A lot of persons that were layoff are still grappling with unemployment till date. The economy is not in any recovery neither are there signs to that effect rather what we're witnessing on daily basis is hikes in prices of goods and services and high insecurity challenges which weren't there before the COVID-19 wave.

To worsen the harsh conditions the emergence of the Ukrain-Russia war, and other conflicts in the Middle East all these indexes put together can we really say things are getting better, life's standard is improving. Because from what it is an estimation of above two-thirds of the world population are finding it hard to survive the hard times. How many persons can actually afford a world class health care?

Just because we are the ones witnessing and experiencing what the covid pandemic is causing, we feel it is so bad and terrible and this is the only bad thing we have ever experienced. But if you ask someone who has been through pandemics in the past or someone who has been through world wars or even revolutions to save their country from invaders. They will tell you that what is happening is insignificant and nothing compared to what they have been through before.

So it is not true to say that the world economy is getting worse. If we want to know whether the world is getting better or worse, let's ask people who have lived through different decades and stages of the world like our grandparents. Don't ask young people born and living in the modern world. We will have a clearer view of the world's development.