Economic resilience and vulnerability during the coronavirus

Abstract

Great uncertainty prevails in the world today because of both zoo noses and geo economics. The importance of this contribution derives from the fact that it clarifies the scenarios where we are forced to make uncertain decisions but adjusted to reality. Its justification is that reconstruction in resilient economies (adaptively efficient) will be different from reorganization in vulnerable ones (adaptively inefficient). In the former, their economies and societies were resilient, implementing post-Fordism in production (business innovation), and the Welfare State in social policy (social innovation). Such dependence on the trajectory in the centers of the Western World allows us to foresee that their productive reconversion will lead to the numerical economy with as much comparative efficiency as that achieved before the pandemic. Lagging economies, on the contrary, will recycle to vulnerability particularly because they suffer from the original sin of procreating artifactual structures whose offer is rigid in the face of variations in income, and therefore propellant of the structural deficit of external financing that forces them to borrow in foreign currencies. to finance the proceeding unproductive sequence. This is a research article that applies the institutional methodology to arrive at the result that identifies how the reconstruction of resilient economies will be different from that of vulnerable ones. We conclude by emphasizing the strategic importance of social action to transform vulnerability into economic resilience.

JEL Classification. I1; B15; E60; E02; E61.