Thursday, November 5, 2020

Does COVID Teach Us About New Global Economic Models?

 Economics is only the understanding of human behavior on a macro level. In traditional economic models, information and decision making happen in the context of physical conversation. Such human-to-human interaction is how people obtained information and learned how to react and handle new crisis. What COVID did was highlight how these social networks operate on a global level.

Perhaps all of the information might not be available from every country and ever location. Yet, most countries are tracking the spread of the virus. While they do so they also open up a glimpse into big data and global understandings.

1. How social networks operate on a global scale. The spread of the disease is through social interaction highlighting who was in contact with whom (i.e. contact tracing) and how disease spreads.

2. How there are two different economies at work here (The digital, the physical and something in between). There are some losing and there are some winning and those aligned to the Digital GDP economy seemed to fair better. 

I'm working on a theory on clusters and transactions so I keep this concept in mind and sort of wait until someone has the resources to collect the high level data provided in the future by countries (Assuming they share it publicly...there could be some national concerns on releasing internal social network movement). From that information we may see how economics, social interaction, and the spread of ideas occurs. I'm not sure if we can do this but it seems possible. 🤔 


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