Abstract
The subject and purpose of this study is to examine the new type of coronavirus disease (COVID-19), which has turned into a global epidemic, with an economic-political approach. There are twin crises in the form of a health crisis (high human deaths) and an economic crisis (recession). Trillion-dollar aid packages from governments and international financial organizations also show that this global public health crisis has created an economic crisis. In the context of these crises, G-20 countries that did not intervene in their transmission channels in a timely manner showed the worst situations. This epidemic, calculated with the SIR model, is global, but the measures are local. What makes a clean, masked, and socially distant life obligatory against the risk of contamination is that this epidemic locks or restricts the whole economy, especially trade, education, and tourism. Measures called “new normalization” have started to relax in order to prevent further increase in unemployment and poverty.
TopBackground
Scientific studies focusing on the political economy dimension of COVID-19 have increasingly begun to enter the literature. Below is a brief summary of selected studies.
Key Terms in this Chapter
Twin Crises: A deadly public health crisis and a recession-type economic crisis that countries experience simultaneously due to COVID-19.
Third World War: Ironic analogy for COVID-19 for its potentially quite dire global implications. AU55: Reference appears to be out of alphabetical order. Please check
Virus-Microbe Literacy: Learning scientific-technical concepts that need to be known for the diagnosis and treatment of germ-virus-borne diseases systematically (lecture or seminar) in or out of school.
Global Health Security Index (GHSI): It is the first comprehensive assessment and benchmarking of health security and related capabilities across the 195 countries that make up the States Parties to the International Health Regulations (IHR, 2005 AU54: The in-text citation "IHR, 2005" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ; see https://www.ghsindex.org/ )
COVID-19: New type of corona virus disease that emerged in China at the end of 2019.
COVID-19 Scale: A prototype political economy approach, developed for this text that compares the good and bad effects of the coronavirus disease.
Political Economy: As a derivative of moral philosophy, the discipline that studies the relationship of production, consumption, and commerce with law and the state.
New Normalization: Returning to the pre-epidemic by loosening the restrictions applied to control the epidemic.