No one knows what the final price tag will be when it comes to the fallout surrounding COVID-19 because no one knows when a sense of normalcy will return.
Jason Childs is an economics professor at the University of Regina. He says the economy will bounce back once the government lifts the measures that are on us.
“Some people would refer to what we are seeing as an artificial recession.” Childs said. “That’s a recession brought about by government policy and that policy is basically quarantining everyone. Once that is lifted, there should be a fairly quick-ramp up to status quo where we are normal. ”
He says there is no doubt the economy is in a freefall right now, but there will be a sharp rise at some point. He says a lot of how steep that rise is will depend on you.
“If people are still leery when this thing is over about going to the movies, going to a restaurant or things like that then it will have a slow recovery.” Childs said. “If the attitude is I can get back to having some pints with my buddies at the bar while watching the game or I’m taking the family out for a meal and I’m going to do everything I haven’t been able to do then that recovery will be pretty quick”
Like many though, Childs has no idea when to expect that normal routine in our lives to return.