Some thoughts on… Adjusting to a changed world

I have reached out to some of you since the Covid-19 shutdown, but wanted to send this message broadly to check-in.

As we begin adjusting life to a changed reality, I am reflecting on this move to a new equilibrium of social distancing, Zoom videocons and home isolation. In such an altered reality, it seems facile to merely adjust, as it implies a temporary change.  If we’re only adjusting, we simply adjust back in a few months.  Yet we know that is impossible, since life will be intrinsically different by the summer. 

So instead maybe we should be adapting – changing our expectations, desires, needs – to the new world.  This sounds closer to the right course, and it may be a necessary step.  Ultimately, I see us needing to engage with this changed world - understanding the new circumstances, and at the same time using the situation to get to know our community, loved ones and ourselves better.

Over the past 3 weeks, our friends’ 21-year-old daughter, Alexandra, was living with us since her college closed and her parents are in Sweden.  After the initial craze of determining what was happening, we all ended up home bound together with my brother and close friend Mala.  Spending the days together, we learned how much Alexandra loved to bake, had a savvy head for finance, and a surprisingly deep knowledge of Broadway musicals. She was on the flight back to Stockholm yesterday, and we already miss the gift of engagement she brought to our lives. 

Continuing this spirit of engaging, I am enclosing a set of articles which I sent to students in my Principles of Economics class about Covid-19.  

o   Discussion on transmission and what we can learn from Asia

o   Argument for social distancing and other measures

o   Therapeutic options that are being considered

o   The risks doctors are taking to treat patients

o   A demonstration of how people are adjusting and a wonderful performance

Also, for those of you interested in a refresher on counter-cyclical macroeconomic policy (i.e. what the government and Federal Reserve are attempting now), you’re welcome to join my Zoom class on Tuesdays and Thursday mornings.  We will be covering GDP, inflation, unemployment, credit markets, and how governments work to prevent downward economic cycles. Please reach out if you're interested in joining.