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January 7, 2021

How Covid could stoke civil unrest in the US

By Paul Dennis

7 January

Jason Schenker, an economist and chairman of The Futurist Institute, shared an article on how the economics of the stomach is a real thing.

In a LinkedIn post, Schenker explains how 20 million people in the US still remain without jobs because of the coronavirus pandemic, which is likely to result in some belligerent outcomes such as political upheaval, violent unrest, and uncertainty.

Schenker examines the revolts and revolutions of the past, the impact of Covid-19 in 2020 on the job market and the economy, and futurist scenarios in his book The Economics of Revolt and Revolution.

He states that the labour market takes a long time to recover from negative economic shocks, even when the recession ends.

Despite financial markets doing well during a crisis like the current pandemic, it is not the economy and the economy is not the labour market, which takes even longer to recuperate, Schenker adds.

Therefore, analysing historic trends and the current data is important for crafting future scenarios and preparedness for leaders.

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