The COVID economy is here for the long haul

A post-COVID economy? Not so fast, says Javier Díaz Giménez. Business leaders should accept that we'll be living in a COVID economy for a good long time, even with vaccines and a return to growth. Adapting to the new steady state is key to staying competitive.

Now that vaccines are here, many are talking about the post-COVID economy. But instead we should be accepting that the COVID economy is here to stay, argues professor Javier Díaz Giménez.

The COVID economy includes health protocols, QR codes, less travelling and more stockpiling ICT equipment. The infection rates may rise or fall, but the virus and the fear of it will remain with us until COVID-19 is completely eradicated, like smallpox.

"If we think 'we are in a COVID economy,' we'll adapt faster," says Díaz Giménez. And there will be a big premium for the businesses that can adapt to this thinking with agility. Listen in as the economics professor discusses distorted statistics (on growth, debt and inflation) and how to adjust to the new steady state.