has this pandemic affected the wealthier people the most or the people with less wealth ? #pandemic #wealth #rich #lay
Dear Mr. Boakye!
You raised a significant point. COVID-19 is raging now and spreading out quickly. In so one cannot tell the overall impact:
1) Verma, P., Dumka, A., Bhardwaj, A. et al. A Statistical Analysis of Impact of COVID19 on the Global Economy and Stock Index Returns. SN COMPUT. SCI. 2, 27 (2021). https://doi.org/10.1007/s42979-020-00410-w Open access:
Article A Statistical Analysis of Impact of COVID19 on the Global Ec...
2) Ehnts, D., Paetz, M. COVID-19 and its economic consequences for the Euro Area. Eurasian Econ Rev (2021). https://doi.org/10.1007/s40822-020-00159-w Open access: Article COVID-19 and its economic consequences for the Euro Area
3) A case-study: Ababulgu Abasimel, N., Wana Fufa, H. The Horrors of COVID-19 and the Recent Macroeconomy in Ethiopia. J Knowl Econ (2021). https://doi.org/10.1007/s13132-020- 00713-6 Open access:
Article The Horrors of COVID-19 and the Recent Macroeconomy in Ethiopia
4) Kinga Barrafrem et al. (2020). Financial well-being, COVID-19, and the financial better-than-average-effect, Journal of Behavioral and Experimental Finance
Volume 28, December 2020, Open access:
Article Financial well-being, COVID-19, and the financial better-tha...
I am living in Finland so I focus on the Euro - area: I think the poorest regions of EU have suffered the most up till now: namely Portugal and Spain.
Yours sincerely, Bulcsu Szekely
The pandemic has affected the less wealthy more than the wealthy class. Those who were in the informal sector and who ate working on contractual terms in formal sector suffered most due tio lockdown related measures. The loss of income and wealth made their lives difficult.
The pandemic has affected mostly people in the informal sector(those who are not formerly employed) ,the indigenous people. They usually operates in crowded places were we find multitudes of people, so due to lockdown measures, they are affected most...
The SARS-CoV-2 (Covid-19) coronavirus pandemic has had a financial impact on different types of companies operating in different industries and sectors of the economy and on the employees of these companies. The pandemic has had a particularly negative impact on lockdown companies, such as tourism and hospitality companies, where many companies are going bankrupt, layoffs and increased unemployment. On the other hand, the SARS-CoV-2 (Covid-19) coronavirus pandemic has caused a good financial situation for e-commerce, internet commerce, courier companies, manufacturing companies producing anti-pandemic products, and local and / or regional manufacturing companies, in which saw a large increase in orders due to disrupted international logistics chains. There has been an increase in employment and production in these manufacturing companies.
Best regards,
Dariusz Prokopowicz
COVID-19 has hit finances of low-income people in India.
https://www.livemint.com/money/personal-finance/covid-19-has-hit-finances-of-low-income-the-most-affluent-still-better-off-11593677472785.html#box_11593677472785
One of the effects -- Barnett, M. L., Mehrotra, A., & Landon, B. E. (2020). Covid-19 and the upcoming financial crisis in health care. NEJM Catalyst Innovations in Care Delivery, 1(2).
The economic effects of the SARS-CoV-2 (Covid-19) coronavirus pandemic defined by the economic crisis occurring in certain sectors and sectors of the economy and the increase in the scale of valuation volatility, amplitude of fluctuations in stock exchange rates on capital markets in 2020, similar to previous economic and financial crises occurring in During the last few decades, they resulted in an increase in income stratification in individual income social strata, i.e. people belonging to the richest social strata usually significantly increased their wealth during the above-mentioned crises, and citizens of the poorer middle class and the least earning in real terms became poorer. Even if after a few years there were also increases in nominal wages in the lowest-earning citizens, as a result of the anti-crisis, interventionist monetary and fiscal policy measures applied by the government and the accelerated inflation processes caused in this way, the disposable incomes of citizens with the lowest earnings and the poorer middle class were actually decreasing.
Regards,
Dariusz Prokopowicz
The ones that are hit the hardest are the lower class, the ones on SSDI, SS, Vets, RR, and those that make no more than 35k/yr. The government has made those that draw some kind of assistance to be in the poverty levels. The people that were put on disability and can not work receive money from the government while some go homeless adding to the already high count on the homeless list. America is giving the big and small businesses more support than they are the people, other countries are receiving better help than the Americans.
This Pandemic is hurting people all over the planet and doesn't look like it is going to disapate any time soon. In the United States there have been over 500,000 deaths and the total for the world is over 2 million people. This has to stop and stop fast, why didn't China warn the world about the virus when it first started. There have been over 100,000 small businesses have closed forever here in the US alone and 7.5 million will permenatly close if they do not get a handle on the Covid.
The US Government needs to help the lower class, SSDI, SSI, SS.Vets, RR and the small businesses that are in jepordy of closing. Not only does this effect consumers it also effects employees and their families. There is hardly any help that are on SSDi, SSI,SS because they do not qualify for help like; rent, mortages, utilities or a raise on their checks. They do not qualify because one their children are grown up, some are single with no dependents. The people that are in prison have more benefits than most Americans, they are getting Stimulus checks while the homeless and vets that are homeless. That is not right, nearly 40,000 vets are homeless and many don't receive any help or reasons from the government.
What will the planet do if this continues?
Most of the fatal victims were elderly people, most of whom already had pensions that contributed significantly to the survival of families. The pandemic represented the loss of the main source of income for many families.
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