Source: Dr. Mike Walden, WRAL TECHWIRE, 3/27/20


Editor’s note: Dr. Mike Walden is a William Neal Reynolds Distinguished Professor in the Department of Agricultural and Resource Economics at North Carolina State University who teaches and writes on personal finance, economic outlook and public policy.

Most crises have lasting effects. World War II spawned the United Nations but also the Cold War. The Vietnam War caused many to question our major institutions and also created a revaluation of U.S. military tactics and objectives. One of the lasting impacts of the Great Recession of 2007-2009 has been a renewed interest in frugality by the millennial generation. The current turmoil induced by the coronavirus, which I will shorten and call the “Virus Crisis,” will also affect our society. Here I examine four impacts that could occur in our future.

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