Opinion
Forget the second wave of lockdowns, prepare for the recessionary tsunami
By Ash Navabi July 15, 2020
Although this pandemic is novel, the laws of economics remain unchanged.
Finance Minister Bill Morneau, pictured on Parliament Hill on March 18, 2020. Prices are determined by supply and demand, and enterprising individuals will find a solution to anything profitable. Understanding these principles will be the key to a healthy prognosis for recovery. The only complication to worry about is more meddling by politicians, which has a simple cure: civic vigilance, writes Ash Navabi. The Hill Times photograph by Andrew Meade
TORONTO—In the midst of multi-phase reopening plans, COVID-19 cases are back on the rise around the world. This has caused talks of a second round of lockdowns to circulate before this first round of unlocking. This is music to the ears of struggling business owners. Yet we shouldn’t expect a government-orchestrated economic plan to be harmonious. The new normal for businesses will still mean cacophony of higher input prices and disrupted distribution networks.
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