The Problem of ‘Freezing’ an Economy in a Pandemic

Cryoeconomics: How to Unfreeze an Economy (2020)

12 Pages Posted: 20 Apr 2020

See all articles by Darcy W E Allen

Darcy W E Allen

RMIT University

Chris Berg

RMIT University

Sinclair Davidson

RMIT University

Aaron M. Lane

RMIT University

Jason Potts

RMIT University

Date Written: April 10, 2020

Abstract

The 2020 global pandemic abruptly brought into question many of our social, economic and political institutions. COVID-19 is more than a public health crisis—as economies and states falter there are deep questions about the resilience and robustness of our political and economic systems. Are we too reliant on global supply chains? If regulations don’t make sense in a crisis, do they make sense afterwards? Today we are presented the opportunity to rebuild the institutions and organisations of our modern economy. If we do this right, through a process of entrepreneurial discovery and bottom-up solutions, then we will emerge with a political-economic system that acts as an engine for prosperity, and one that is more resilient and robust to future shocks. In this book we tackle those questions and fill some of the current void of ideas and thinking about economic and political recovery. We develop a framework and principles for an institutional re-build, presenting a path to recovery based on the ideas of private governance, permissionless innovation and entrepreneurial dynamism.

Keywords: COVID-19, evolutionary economics, pandemics, resilience, institutional economics, regulation

JEL Classification: O31, O35, O11, O12, D01, D02

Suggested Citation

Allen, Darcy and Berg, Chris and Davidson, Sinclair and Lane, Aaron M. and Potts, Jason, The Problem of ‘Freezing’ an Economy in a Pandemic (April 10, 2020). Cryoeconomics: How to Unfreeze an Economy (2020). Available at SSRN: https://ssrn.com/abstract=3572365

Darcy Allen

RMIT University ( email )

440 Elizabeth Street
Melbourne, 3000
Australia

Chris Berg (Contact Author)

RMIT University ( email )

124 La Trobe Street
Melbourne, 3000
Australia

Sinclair Davidson

RMIT University ( email )

124 La Trobe Street
Melbourne, 3000
Australia

Aaron M. Lane

RMIT University ( email )

124 La Trobe Street
Melbourne, 3000
Australia

HOME PAGE: http://https://www.rmit.edu.au/contact/staff-contacts/academic-staff/l/lane-dr-aaron

Jason Potts

RMIT University ( email )

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
840
Abstract Views
2,562
rank
30,375
PlumX Metrics