It’s chilling enough hearing the medical forecasts for the impact of coronavirus. But the economic forecasts are almost as worrying.
Many businesses have already sent most of their staff home. At some point it seems likely that almost everyone bar essential workers such as healthcare providers will be ordered to work from home. The impact on the economy will be cataclysmic. One forecast, by the respected Centre for Economics and Business Research, suggests that London’s output would fall by £495 million a day for as long as such a state of affairs continued.
Should it last even a week, the CEBR calculates that the London economy would lose £2.4 billion in output. Since the capital is responsible for approximately 20% of the UK’s GDP, this would mean the British economy shrinking by 6% during any lockdown. No wonder: manufacturing, for example, would simply stop if there are no workers to, as it were, manufacture anything.
You might think that such a scenario would be universally viewed as a disaster. And you would be wrong. Because there is one group — an influential group, whose influence is ever-growing — for whom such a shutdown (albeit not one caused by a pandemic) is not a disaster but a first order policy goal.
I refer, of course, to the Green movement.
The next few weeks will present many challenges, to use the fashionable phraseology. But they will also offer us the chance — force us to have the chance, I should say — to examine the consequences and popularity of many of the policies that mainstream green activists and eco-warriors have been urging us to adopt for decades.
Take travel. On Wednesday President Trump barred all EU flights from entering the US, wiping fortunes off airline shares and pushing the stock market into freefall. But to green activists, this was no disaster but the implementation of the long-cherished goal of ending international air travel.
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SubscribeThis article presents a very dangerous mindset, of either 0 or 1. All or nothing. It’s very manipulative. Perhaps there are radical green activists, putting forward the zero travel postulate. I can only agree that this borders on madness (I am a frequent flyer and an avid plane spotter). No, the green parties do not want to keep us at home, like the epidemic has done. This is an should be a temporary measure, only for the time of the epidemic. Do not put your twisted interpretation on that. The green movement, which in its mainstream should be called the sustainability movement, postulates to bring a bit more balance to it all. The frustration that feeds populism in the West is rooted in the fact that it has been so easy to export production to another continent, and then bring the products made over there back home. The cost of production being the only reason for that, using the cheap labour, interestingly available in the second last communist (North Korea being the very last). All of this left areas such as Detroit to rust. The sustainability movement postulates a bit less travel, fly an drive when you need or want, but not when you don’t need, not all meetings need to be face to face. But many do. (Myself being and teacher and facilitator, I suffer because the students don’t even switch their cameras on). Rediscover local and regional resources, maybe you do not need to import that component from a different continent, maybe you can co-develop it with a local or regional or national subcontractor. If not, fine go and search anywhere. Sustainability is about taking different aspects into account, not just but also the social and natural environment. But certainly not staying home all the time and no travel at all.