AgeLab Director Joseph Coughlin writes on LinkedIn that many of the changes effected by COVID-19 may remain with us long after the pandemic is over:
"Observers have described the pandemic as transformative to society. Not exactly. Instead, COVID-19 fanned the gale of creative destruction that was already underway and has served as a propellant accelerating economic and social change.
Nearly 80 years ago, Austrian economist Joseph Schumpeter described change, particularly economic change, as the result of a “gale of creative destruction.” Where technology, new processes, and entrepreneurs lead to the destruction of ‘normal’ and to the creation of a new economic and social equilibrium."
Read Dr. Coughlin's thoughts in full here.