Economic nightmare?

The video discusses economic catastrophes, focusing on the COVID-19 pandemic's unique challenges. It explains three types of economic shocks: demand, supply, and financial. COVID-19 potentially causes all three, impacting global supply chains and consumer confidence. Traditional fiscal and monetary policies may be ineffective, requiring innovative solutions. The economic impact is more about public reaction than the disease itself, with the best outcome being containment and limited recession.

In what ways can fiscal policy be used to combat a recession?

What are the potential consequences of a global recession caused by a pandemic?