UCI News

Covid will leave deep scars in world economy even after recovery

Bloomberg, April 17, 2021

April 17, 2021

Covid will leave deep scars in world economy even after recovery

“It’s very easy after a grueling year or more to feel really relieved that things are back on track,” said Vellore Arthi, UCI economics assistant professor, who has examined the long-term health and economic hit from past crises. “But a lot of the effects that we see historically are often for decades and are not easily addressed.” … Experts, including Arthi, say there needn’t be a lost decade if the right policy steps are taken, especially in the areas of reskilling workers and putting a floor under those hit hardest by the crisis.