Economic Historian, Columbia University
PATRON EVENT: The Cost of COVID-19: Assessing The Global Economic Fallout
About the Topic
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On March 11th the World Health Organization declared COVID-19 a pandemic, unleashing an economic tsunami. For the first time since World War II, notes Professor Adam Tooze, the entire global economic system contracted as governments battled the metastasizing public health menace. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving millions unemployed. Stock markets fell faster and harder than at any time since 1929. Central banks responded with unprecedented interventions, just to keep their economies on life-support. With the pandemic uncontained, what are the challenges for debt-burdened economies? Are international monetary institutions equipped to help in meaningful ways? What lessons from the Great Recession, 2007-2009, might be applied today?
About the Speaker
British economic historian Adam Tooze teaches at Columbia University and serves as Director of the European Institute. His work has ranged from 20th-century German economic history to the 2008 global recession. Also a columnist, editor, and author, Tooze most recently published Crashed: How A Decade of Financial Crises Changed the World (2018). He is now working on Lockdown: The Economic History of the COVID Crisis ( 2021). Last year, Foreign Policy Magazine named Tooze “one of the top global thinkers of the decade.” He tweets @adam_tooze.