Characteristics and causes of the Corona 19 pandemic economic crisis

In particular, it is noted that the Corona 19 pandemic economic crisis occurred after the global financial crisis in 2008 when the macroeconomics of each country have not yet been normalized. Therefore, it is reported that if special economic policies such as the Keynesian Revolution during the Great Depression in the 20th century are not presented, and the existing monetary policies are repeated, the world economy is in the possibility of a K-shaped economic recovery in the short term and an L-shaped long-term depression in the long term Develop the discussion. Even if the global economy overcomes the Corona 19 pandemic, the reason why it is difficult to get out of the long-term recession is because the root cause of the recession has not been removed. The pandemic can lead to a short-term economic crisis and amplify the economic downturn, but it is not the root cause. The root cause is the overaccumulation of the real sector brought about by capitalist economic operations, overproduction and decline in profits, overheating and collapse of the financial sector, and an asset bubble that does not accompany real value.

 

In addition, in this paper, the advent of the'new normal' economy, which is often talked about recently, is a long-term change, and in the short term, it is predicted that the return to the same economic operation method will be achieved. From this point of view, the order of this paper is as follows. First, we will check how the Corona 19 pandemic affects the economy amid the current situation in which Corona 19 is underway. In addition, we look at the characteristics of the Corona 19 pandemic economic crisis. Next, we will examine the structural causes of the Corona 19 pandemic economic crisis. It also explains the recovery process of the Corona 19 pandemic economic crisis. Finally, in connection with the New Normal, which is said to be unfolding after the end of the Corona 19 pandemic, we seek ways to create a better economy and society, and prevent another pandemic.