I have been reading more about the economic changes due to coronavirus and am getting more concerned every day. I read This is how an Economy Dies this morning. Large corporations have cash on hand to survive this recession, even depression. They have cash to gobble up smaller, struggling organizations. Small businesses have on hand roughly a month's worth of savings. The stimulus package may offer them a bridge, but how soon are people really going to go back to shopping at brick-and-mortar stores? This statement sums it up pretty well "In the end, what will be left in the wreckages of such an economy is just a handful of mega corporations controlling most of the economy". I believe this will be an opportunity for mega corporations to consolidate market share, increase profits, and buy mid-sized businesses at bargain-basement prices. This could accelerate us into autocracy by corporations. I hope this is not true:
"When societies go through shocks which are allowed, through negligence and folly and failure, to leave entire classes of people suddenly, permanently poorer — then democracy tends to die, too. Think of the Weimar Republic. Think of Soviet Russia becoming Putinist Russia. Think of…modern day America. Trumpism was a direct, predictable consequence of the implosion of the American middle class. Coronavirus is likely to accelerate America’s implosion into autocracy."
Eric is a traveller, hacker, and experimenter who is currently researching how to become a happier, calmer, and more compassionate human being.