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This Podcast Will Kill You

COVID-19 Chapter 9: Economics

This Podcast Will Kill You

Exactly Right and iHeartPodcasts

Science, Health & Fitness

4.817.7K Ratings

🗓️ 20 April 2020

⏱️ 70 minutes

🧾️ Download transcript

Summary

Episode 9 of our Anatomy of a Pandemic is here, and this week we’re stepping outside our public health sphere to examine COVID-19 from an entirely different perspective, that of an economist. Pandemics don’t happen in a vacuum, and the ripples of their impact extend far beyond those of public health, as nearly every person can attest to today. We’ve seen headlines about a global recession and high rates of unemployment, but what do those things actually mean? Have we seen something like this before or is this uncharted territory? And most importantly, what can we expect? We were curious to know the answers to these questions but we lack the expertise to take them on ourselves, so we asked economist Martha Gimbel, Manager of Economic Research at Schmidt Futures to join us on this episode about the economic impacts of COVID-19 (interview recorded April 14, 2020). A caveat: this episode focuses mostly on the economic impact of the pandemic in the US. As per usual, we wrap up the episode by discussing the top five things we learned from our expert. To help you get a better idea of the topics covered in this episode, we’ve listed the questions below:What are some of the indicators that we use to know how the economy is performing, and what were the trends we were seeing in the months before this pandemic hit?Could you take us through a timeline of the economic impact, starting with the first signs that the pandemic was having an impact on the global economy? What industries felt the pandemic first, and where do we stand now?Could you break down the impact that we’re seeing on the global economy, the US economy, large corporations, small businesses, and the average consumer?Was there a global recession after the 1918 influenza pandemic? If not, what makes these current circumstances unique?Which countries or industries are the most vulnerable and why?Are certain countries or industries proving to be more resilient in the face of this global recession?Can you talk about the gig economy here and how our reliance on low-paid workers with no protection from their employers has impacted our own economic resilience?Can you talk about the implications of the numbers of unemployment insurance filings that we’re seeing and just how staggering they are?Are the current benefits offered through the unemployment system going to be enough to keep people at home and not seeking work in situations that put them at higher risks of exposure?Are there any general trends or predictions in terms of how long this recession will continue and what it will take to recover? How will we know when we have “recovered”?Are you seeing any innovative solutions that people are proposing or starting to implement in terms of a social safety net?What positive changes do you hope this pandemic will bring about?Where is the money for the stimulus checks coming from?Is that $1200 check going to be enough to keep people going for the next few months?

Transcript

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0:00.0

This is exactly right.

0:03.5

This is Justin from Generation Y and we're doing a four-part series unraveling the story

0:11.2

of Khalif Browder, a young boy falsely accused of stealing a backpack and held at Rikers Island

0:16.6

for three years without trial.

0:18.7

This story is about a young life caught in the middle of the justice system, listen to

0:23.0

Generation Y on Amazon Music or wherever you get your podcasts.

0:26.5

I don't think it was a moment of madness.

0:28.4

I think it was almost like a business transaction.

0:31.4

The thing that made my sense to him was to get rid of him.

0:35.0

Season nine of Tinfold More Wicked is now available on exactly right.

0:39.6

New episodes every Monday.

0:41.6

Follow the show on Amazon Music, Apple Podcasts or wherever you get your podcasts.

0:47.8

My name is Rachel Haguemire.

0:49.6

I am lucky enough to work as the manager of education and community engagement at the

0:53.4

Canton Symphony Orchestra in Canton, Ohio.

0:56.6

I am a recent graduate of the Baldwin Wallace Conservatory of Music, where I majored in

1:01.2

bassoon performance and arts management and entrepreneurship.

1:05.0

As someone who is in their first year of professional work, I did not think that a global

1:08.7

pandemic was going to be my biggest worry while on the job.

1:12.5

Since the majority of our patron base are elderly and more at risk to COVID-19, we were

1:16.7

watching the outbreak very closely.

1:19.7

By the last week of February and the first week of March, when reports of cases in America

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