Leaders in government and organisations need to make hard choices now, says IMD’s President Jean-François Manzoni.
LAUSANNE: COVID-19 has presented an unprecedented global challenge, which governments and societies have met with differing degrees of success.
I think it is time for a more nuanced and sophisticated debate about the “right” approach to dealing with this crisis. First and most obvious, global economic disruption doesn’t just mean smaller dividends for shareholders and pay cuts for bosses; it also affects employers and employees. People line up at a food bank following the outbreak of coronavirus disease , the Manhattan borough of New York City, New York, US, Jul 30, 2020.
Wealthier parents can compensate for school closures by providing their children with computers and private lessons. The same cannot be said for the less advantaged, whose children often lack adequate tools or support to help them keep up with their peers. In addition, pandemic patients are in front of our eyes and their number is being monitored and communicated on a regular basis, whereas the confinement strategy’s social and economic impacts are much more diffuse and largely in the future.
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