The
economic divide in our society can be observed between people who
currently don't have jobs or food and people who are getting fat,
bored, anxious, and sad. When some of my friends told me that they
were fine with the quarantine because it allows them to work from
home, I felt like they were very disconnected from from what is
happening to people like food peddlers and jeep drivers.
People
who work for the government (perhaps because they are the least
financially affected by the quarantine) also do not show empathy with
their new and hastily-crafted policies like distance learning. But to
be fair, this is a crisis like no other and there simply are no
precedents for us to say that this or that was what should have been
done. However, I am pretty sure that our government officials (from
their gilded cages) do have our well-being in mind. They only have
to look at the French revolution to know what is in store for them if
they do not act quickly.
A good
example of a V-shaped economic recovery was the economic recovery (if
not boom) that took place in Zamboanga city after the 2013 siege. It lasted for more than a month but the perpetrators were
all apprehended in the end and victory was very decisive that today,
you would scarcely think that it ever happened. In contrast, prior to
that victory, life in Zamboanga city was constantly interrupted by
bomb threats. Every now and then, people would tell you not to go to
crowded places which really hurt the economy.
Like
terrorism, the effect of this virus will be a decrease on people's
appetite to do things such as eating out and watching a movie or
buying big ticket items such as a car or a house. The economy is very
much tied to people's moods and outlook. Whenever people are scared,
they simply do not like to consume.
A quick
recovery would have been possible had the threat of the virus
disappeared after going on a lock down. I think that when the lock down was introduced, people were expecting that at some point the
government would declare the country free from the virus, lift all
restrictions, and life goes back to the way it was. But 100 days
since the quarantine took effect and we are seeing disruptions in
everyday life such as certain buildings or areas being locked down because of a sudden and rapid increase in positive cases.
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