Pandemic, Crisis and Intervention
This article aims to explain the economic consequences of a pandemic, a circumstance in which the advent of the crisis is not endogenously induced by the financial system. The analysis is divided into two parts. The first one will be focused on the effects that a contagious and deadly disease has on the economic agents' valuation scale and on their time preference and how this is responsible for distorting the productive structure and giving rise to an economic crisis. Then, we will analyze the most common types of intervention in times of pandemic, such as quarantine, maximum price setting, bailing out companies and subsidies to certain agents. In this way, it is intended to explain how the use of these policies end up aggravating the tragedy and how the State should act in this scenario.
BAGUS, Philipp. The COVID-19 Crisis Is Driving the EU to the Brink. Publicado pelo Mises Institute em 25 de abril de 2020. Disponível em: <https://mises.org/wire/covid-19-crisis-driving-eu-brink>. Acessado em: 10 de junho de 2020.
BOLOGNA PAVLIK, Jamie & GELOSO, Vincent. Economic Freedom and the Economic Consequences of the 1918 Pandemic. Publicado pelo SSRN em 22 de maio de 2020. Disponível em: <https://ssrn.com/abstract=3608178> ou <http://dx.doi.org/10.2139/ssrn.3608178>. Acessado em 18 de julho de 2020.
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