The Bank of England has predicted that the current economic crisis will be the cruellest in the last three hundred years. That says more about us, as a current set of generations, than any other sociological research.
Lets take a look at three major events in the last century.
- The First World War was not as scary as the COVID-19. In WWI Britain lost 744,000. In COVID-19 so far it lost 31 930.
- The Second World War, as London survived bombardment of Nazi Germany planes is not as scary as COVID-19. 264,443 soldiers and officers have lost their life. It is not counting civilians and Commonwealth.
- At last, Spanish flu pandemic of 1918 which killed up to 50 millions worldwide is not as scary as the COVID-19.
Word Wars took the life of the young men, as did the Flu of 1918 mostly. COVID-19, as for now, preys for sick and old people. As cruel as it sounds, it does not put the pressure on society to such extent as wars and H1N1 of 1918. So why the crisis of 2020 should be ‘cruellest’ in 300 years?
Maybe the answer is in the economic itself, drowned in ‘services’, ‘startups’ and other counter-intuitive yet ‘important’ branches? Maybe tourism and hospitality are not the safe grounds for healthy economy? Or outbound travel is not as important as we suppose? I don’t know, but I know for sure: the worst crash in 300 years will be caused by our own hedonism and weakness, not by the COVID-19.