There are approximately 1.2 billion people in extreme misery in the world and this poverty forces individuals to live in conditions that favor illness: lack of potable water, poor access to food, housing and the health system itself, are just some examples of this process 7 7. First, the impoverishment of the population increases their vulnerability to diseases related to their squalid living conditions, such as leishmaniasis, schistosomiasis, leprosy, tuberculosis, and gastrointestinal diseases, among others 7 7. In these countries, a small stimulus package during this pandemic can create an even greater burden on the health system. It remains to be seen whether these measures will achieve their purpose or whether we will face an economic recession and its impact on development, especially that of low- and middle-income nations 6 6. Given this, how can countries that lack large industry and who depend on the import of products cope? Certainly, they will have even less weapons to fight the pandemic. Associated with this, many countries are banning exports on the grounds that household products are needed domestically. This is a strategy used by the USA in the face of the COVID-19 pandemic, with the manifest intention of forcing the automotive industry to produce ventilators to serve the population. , which is characterized by the use of the industrial apparatus for the production of goods needed at the time of crisis, such as medical equipment. Avaliable from: (accessed May 12, 2020).Īnother important component is industrial conversion 1 1. Medidas de Combate aos Efeitos Econômicos da COVID-19. Considering gross domestic product (GDP), Brazilian fiscal measures reach only 3.1% of GDP, much lower than what is observed in other countries such as the USA, Germany, Canada, and Japan 5 5. On the other hand, developing countries such as Brazil, India, and Mexico, are offering more timid packages (< US$300 billion). In absolute values: The USA envisages a US$2 trillion stimulus package in Japan, US$1 trillion in Germany, US$808 billion. In Brazil, the government offered timid support to workers, about R$600.00 per month for three months.įaced with the pandemic and its consequences, many countries are turning to the term “ war economy” to adopt measures to contain the effects of the pandemic. In countries like India, Brazil, and Mexico, for example, the lack of income-guarantee mechanisms for the poorest workers during the pandemic is another aggravating factor. In low- and middle-income countries, the damage is even greater, as these countries already face chronic economic and social problems. It is evident that the damage caused is not limited to the economic sector, but alongside the health sector, they are the most affected by the pandemic. Posibles efectos del Coronavirus en la economía mundial.
Instituto Belisario Domínguez Senado de la República. The process of dissemination of COVID-19 across countries and the sanitary measures adopted to stop the expansion of the disease resulted in significant economic losses: slowdown in the global economy, rapid fall in the values of financial assets, fall in imports/exports, shrinkage of industrial production, increased inflation, reduced wages, increased unemployment and breakdown of tourism, and the provision of services 3 3. Coronavirus COVID-19 - Global Cases by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University CSSE. The war is against an invisible agent, who as of had already caused more than 280,000 deaths worldwide 2 2. In this case, it is a “war-free” war economy, at least in the generic sense. In 2020, many countries have evoked the war economy in the face of the COVID-19 pandemic. These may not prove to be easy tasks in the months ahead 1 1.
James Kenneth Galbraith: “ In a war economy, the public obligation is to do what is necessary: to support the military effort, to protect and defend the home territory, and especially to maintain the physical well-being, solidarity, and morale of the people. It is worth highlighting the definition of the illustrious Dr. It is characterized by the increase in public spending and centralization of economic guidelines within the scope of public power, which starts to dictate the economy’s mode of operation seeking to save it 1 1. War economics refers to the set of exceptional economic measures taken during a certain period of time, generally defined by the existence of an armed conflict (war).
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