A NEW BOOK "ECONOMY AND ECONOMIC POLICY UNDER PANDEMIC” IS TO BE RELEASED BY IEP

Notwithstanding that the recognition of the "pandemic crisis" uniqueness has become almost universal, it is difficult to confirm any well-established definitions of this global phenomenon, when its effect was not only prolonged for an indefinite time, but also it is apparently acquiring a fundamental nature.

In the presented monograph prepared by employees of  Gaidar Institute for Economic Policy, and RANEPA under the President of the Russian Federation, economic scientists, taking into consideration that this crisis is not cyclical or structural, suggest to refrain from comparing it with either the Great Depression or the global financial crisis of 2007-2009. In their opinion, the parallel with the situation at the end of World War II and immediately after its end, i.e. with the period 1944-1946, when economic dynamics was determined by non-economic factors, is more convincing. From the media point of view, the definition proposed by the IMF experts: "The Great Lockdown" can be accepted. The current crisis is, in fact, humanitarian, it is actually interdisciplinary by nature, which predetermined the range of problems raised in the monograph, including not only the ongoing economic, financial, industrial or trade aspects.

At first, it seemed that the coronacrisis would unite peoples regardless of their specific national economic and political systems. However, the unification did not happen, at least not yet. Moreover, pandemic frustration has often provoked distrust of the transmitting viruses “outsiders”. Deglobalization has become the focus of discussions. Even though, the isolation during the lockdown unexpectedly put different countries into a single global context: the threats and challenges were, in fact, common for all. Is it possible to learn how to respond to them together? This is perhaps the main question that the unprecedented pandemic crisis posed to humanity.

This work is intended for researchers, teachers, students, graduate students, as well as a wide range of readers, for whom this topic may be of interest.