The last recession didn’t have a major impact on society. The job market was tough for a few years, but the inevitable progress of technology sent the stock market to all time highs while things continued on as before.
This recession calls into question many of the basic tenets of capitalism. What does it say about the basis of the monetary system if rent and mortgages could be suspended for 6 months with essentially no consequences? The society that comes out of this in a few years may look quite different than the one before as this could be a catalyst for a lot of the world implementing basic income.
If this coronavirus is cured by genetic engineering techniques, then the common cold, HIV, cancer, and much else will also be cured in short order, and the intense focus on treating coronavirus right now means it’s not impossible or even unlikely that this could happen. A society with readily available genetic modification is quite different from this one and seriously accelerates singularity timelines.
The last recession didn’t have a major impact on society. The job market was tough for a few years, but the inevitable progress of technology sent the stock market to all time highs while things continued on as before.
This recession calls into question many of the basic tenets of capitalism. What does it say about the basis of the monetary system if rent and mortgages could be suspended for 6 months with essentially no consequences? The society that comes out of this in a few years may look quite different than the one before as this could be a catalyst for a lot of the world implementing basic income.
If this coronavirus is cured by genetic engineering techniques, then the common cold, HIV, cancer, and much else will also be cured in short order, and the intense focus on treating coronavirus right now means it’s not impossible or even unlikely that this could happen. A society with readily available genetic modification is quite different from this one and seriously accelerates singularity timelines.