Studies show past major pandemics led to higher wages for survivors. However, fatalities from COVID-19 have, so far, been highest among the elderly, so it’s unclear what impact that may have on the labour force. On the other hand, new studies show that even survivors can be left with lasting impairments that may reduce their productivity and ability for years thereafter. See: COVID debilitating effects and economic costs may linger for years:
It’s now known that SARS-CoV-2 will leave a portion of the more than 23 million people it’s infected with a litany of physical, cognitive and psychological impairments, like scarred lungs, post-viral fatigue and chronic heart damage. What’s still emerging is the extent to which the enduring disability will weigh on health systems and the labor force. That burden may continue the pandemic’s economic legacy for generations, adding to its unprecedented global cost — predicted by Australian National University scholars to reach as much $35.3 trillion through 2025 as countries try to stop the virus’s spread.
I have long thought that fitness, whole foods and healthy body weights would come back into popularity and official policy targets when present habits and sick care systems are understood as too financially destructive to continue. COVID may well accelerate this process, of necessity.
