COVID-19-Shock: Considerations on Socio-Technological, Legal, Corporate, Economic and Governance Changes and Trends

2020, Proceedings of the 16th International Research Association for Interdisciplinary Studies (RAIS) Conference on Social Sciences and Humanities, Princeton University, Princeton, NJ, August 17-18, pp. 82-93 (2020).

Fordham Law Legal Studies Research Paper No. 3679326

11 Pages Posted: 15 Oct 2020

See all articles by Julia M. Puaschunder

Julia M. Puaschunder

Harvard University; New School for Social Research; Princeton University; George Washington University Center for International Business Education and Research; The New School - Bernard Schwartz Center for Economic Policy Analysis (CEPA)

Martin Gelter

Fordham University School of Law; European Corporate Governance Institute (ECGI)

Siegfried Sharma

Graz University of Technology

Date Written: August 22, 2020

Abstract

This article tries to grasp our contemporary Zeitgeist to serve as historic landmark how pandemics can influence the individual decision making, the social compound, national order, economic structures and the larger-scale international compound. The ongoing COVID-19 crisis accounts for one of the most unpredicted economic disruptions in the history of humankind. Little would we all have expected how our lives have changed since the outbreak of the pandemic if we consider the deep impact the novel Coronavirus has on all our lives, the legal, economic and political spheres. Featuring national policy strategies to cope with the pandemic grants insights about precautionary and reactionary governance during health crises balancing between medical, economic and social well-being. Concurrent with an already ongoing digitalization trend, the COVID-19 pandemic implies widespread changes for individual decision makers in their adoption of technological assistance but also in giving up decision making to Artificial Intelligence (AI). Economic facets of collective learning processes during the crisis are outlined with a special emphasis on the currently ongoing digital disruption. As a widespread external shock to the world economy and legal order, COVID-19 affects corporate conduct profoundly. The legal implications and societal changes’ impetus on corporate conduct will be depicted in order to derive future corporate governance prospects. From an evolutionary dynamics market perspective, a trends prediction sheds light on what kind of firms are likely to fail, which ones may survive and which ones could thrive in the following years and decades to come. International differences in the handling of COVID-19 are highlighted in order to envision future global public healthcare. The recommendations address the importance of well-calibrated goals to cure our contemporary humankind and protect our future common world population.

Keywords: Access to Healthcare, Artificial Intelligence (AI), Behavioral Economics, Behavioral Insights, Comparative Law, Coronavirus, Corporations, Corporate Governance, COVID-19, Crisis, Digitalization, Digi-Disruption, Economic Growth, Healthcare, Herd Immunity, Market Disruption, Pandemics, Technology

Suggested Citation

Puaschunder, Julia M. and Gelter, Martin and Sharma, Siegfried, COVID-19-Shock: Considerations on Socio-Technological, Legal, Corporate, Economic and Governance Changes and Trends (August 22, 2020). 2020, Proceedings of the 16th International Research Association for Interdisciplinary Studies (RAIS) Conference on Social Sciences and Humanities, Princeton University, Princeton, NJ, August 17-18, pp. 82-93 (2020)., Fordham Law Legal Studies Research Paper No. 3679326, Available at SSRN: https://ssrn.com/abstract=3679326 or http://dx.doi.org/10.2139/ssrn.3679326

Julia M. Puaschunder (Contact Author)

Harvard University ( email )

24 Oxford Street
Cambridge, MA 02138
United States

New School for Social Research ( email )

6 East 16th Street
New York, NY 10003
United States

Princeton University ( email )

22 Chambers Street
Princeton, NJ 08544-0708
United States

George Washington University Center for International Business Education and Research ( email )

2023 G Street NW
Washington, DC 20052
United States

The New School - Bernard Schwartz Center for Economic Policy Analysis (CEPA) ( email )

80 Fifth Ave.
5th Floor
New York, NY 10027
United States

Martin Gelter

Fordham University School of Law ( email )

150 West 62nd Street
New York, NY 10023
United States
646-312-8752 (Phone)

HOME PAGE: http://www.fordham.edu/info/23135/martin_gelter

European Corporate Governance Institute (ECGI)

HOME PAGE: http://ecgi.global/users/martin-gelter

Siegfried Sharma

Graz University of Technology ( email )

Kopernikusgasse 24/IV
Graz University of Technology,
GRAZ, STYRIA A-8010
Austria

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