Re:3.28M file for U.S. jobless benefits
by chameleon_world on Thursday March 26, 2020 @03:17PM
(#22696879)
Well the dot com bubble comes to mind concerning people not willing to invest in risky tech companies but that didn't stop new tech from coming to the market
The impacts of corona measures will lead to the economic slowdown and general reduction of wealth - for you this might mean that you lose your job, can't afford to buy a new apartment, car, furniture, electronics, clothes, etc. but for people that live close to poverty level that just got out of that place because of globalisation and increased economic growth this will result in less access to basic infrastructure, medications, food, development opportunities.
And that's not even touching the reduction in R&D and economic activity that would improve the lives of people. For example - consider risky tech companies like Tesla being wiped out by market conditions - who is going to do R&D in things like battery tech in an economy where people are pulling out of capital investment ? Even the established companies with cash reserves will scale back R&D. And this will happen across the board - which will in turn make future crisis more difficult to deal with.