by James D. Gwartney
The American Institute for Economic Research
One thing is certain: life in America is not going to be the same after COVID-19. Like the Great Depression and World War II, the pandemic will exert an impact for years, perhaps even decades, on the nation’s economic and political fortunes.
Some of the changes cannot be predicted. However, we can anticipate some long-term effects. Here are six areas that will see major alterations.
1. The economy’s structure will change. The virus and lockdown crisis forced people to do things differently. Some people have discovered options that will cause them to make different choices in the future. For example, some businesses will use online meeting technology more intensely in the future, expanding work-at-home opportunities and potentially cutting back on travel to meetings. Some doctors and patients have discovered that online doctor visits work well compared to office visits. Some educational institutions and students may even find that online education works well and is more economical than in-person education. Some people have learned to cook and others discovered how to enhance their living spaces.