Will the World Ever Be the Same After COVID-19? Two Lessons from the First Global Crisis of a Digital Age

Abstract

Coronavirus is the first global crisis of a digital age and the divergence in policy responses reflects the challenge of navigating an unprecedented global situation under conditions of enormous uncertainty. We ask what lessons can be learned from this experience and identify two, both of which push against mainstream interpretations of recent events. First, and contrary to the view that the crisis exposed social media and Big Tech as a source of dangerous misinformation that needs to be regulated more strictly, the paper argues that the less mediated spaces of the Internet—social media and Twitter, in particular—played an essential role in triggering a more effective policy response based around social distancing, lockdown, and containment. Second, and contrary to the view that things will go back to normal once the worst of the crisis has passed, the paper argues that, as a direct result of lockdown, the status quo has been shifted across multiple sectors of the economy. Three examples of this shift are introduced, notably the forced experimentation with digital technologies in education and health, the increased use of remote work in many companies, and a reduction in environmentally harmful behavior and decrease in pollution levels. The long-term effects of this ‘reset’ are impossible to predict, but a quick return to the ‘old normal’ seems unlikely. The paper concludes with the suggestion that this reset has created a unique historical opportunity for the reappraisal of regulatory approaches across multiple domains and exposed the need for regulatory models better aligned to a less mediated, more decentralized world. COVID-19 is a global tragedy, but—given that it has happened—it should be used as a learning experience to re-imagine a better, more socially, and environmentally responsible future.

Coronavirus pandemic and economic lockdown; study of strategic initiatives and tactical responses of firms

“…In this, all but the business of essential goods and services were completely stopped (Pulla, 2020). The lockdown overall continued for a couple of months and as economic activities stopped, the economy confronted an unprecedented challenge (Fenwick et al, 2020). Most managers struggled to comprehend what would happen to the overall economy, their industry, their firm and their job descriptions (Kaushik and Guleria, 2020;Ali et al, 2020) as occur with any chaos (Bhattacharyya et al, 2012).…”

“…Managers were also able to decipher and comprehend what could be business repercussions in the long run because of this crisis event (Adam et al, 2020;Verma and Prakash, 2020). During the period of the coronavirus lockdown, managers had time to contemplate both long-term and short-term business and firm-level imperatives (Fenwick et al, 2020;Verma and Gustafsson, 2020;Ali et al, 2020). The authors in this exploratory work attempted to capture what Indian managers thought of regarding the long run and short-term business perspectives.…”

Promises and pitfalls of digital knowledge exchange resulting from the COVID-19 pandemic

“…There are uncertainties about the post-pandemic world, particularly with respect to KE and the ways in which we enact participatory research approaches to foster shared learnings and enable evidence-informed decision-making processes. The long-term effects of this "reset" from the pandemic are difficult to predict at this moment, but many scholars argue it is a transformation event and it is unlikely that the "old normal" will fully return (Fenwick et al 2021). A digital-first world may be inevitable, thus strategic thinking, planning and research is important to inform post-pandemic KE.…”

The Impacts of COVID-19 on China’s Food-Service Industry

“…[9] To be concluded, things will not quickly return to normal as we expected after COVID-19. [10] The lifestyle of people are influenced and consumers are changed to be more negative and sensitive towards the future.…”