The Great Financial Crisis versus the Great Lockdown: A Comparative Study and Lessons from the Past

Abstract

The COVID-19 outbreak impacts go way beyond mortality, almost to a level of global economic catastrophe. With almost the entire world coming to a halt, it is predicted that the virus will turn global economic growth sharply negative. This survey paper provides insights into the possible economic downfall, also looking back at the Global Financial Crisis of 2008. Since, the risk of recession is absolutely real, the article provides insights into the lessons from the past; focusing on how one can thrive the post crisis period, acquiring skills that can lead to beneficial employment.