THE WORLD AFTER CORONAVIRUS PANDEMIC: CHANGING THE DEVELOPMENT PARADIGM OR PERPETUATING THE CRISIS

Abstract

The world has once again faced a
pandemic of an unknown virus. Unlike the others,
at least when it comes to this century, no pandemic
has caused such fear and led to great turbulence in
production and financial flows. In the short term, it
is possible to stabilize the system through the application
of macroeconomic stimulus measures. However,
if global economic policies continue, leading to
strong social stratification, and thus subdued and
unstable economic growth and perpetual financial
crises, global shocks, such as this pandemic, will become
more frequent, which will only deepen the
problems. Sustainable and stable paths of economic
growth and preparedness for systemic shocks require
a fairer distribution of world income and wealth,
preservation of the environment and intensive, constructive
and functional cooperation between international
institutions, the state, the private and civil
sector and citizens.