As statesbegin the process of re-opening businesses, people are startingcontemplate how the pandemic will change public life—andpredictions of a new normal are rampant. This new normal includeseverything from protective legislation to new cultural norms;shaking hands, for example, will be a thing of the past. However,that new normal might just be a quarantine dream, according toChristopher Thornberg of BeaconEconomics.
"There are people saying that this is going to create apermanent change in consumer behavior. Why? There is not a newnormal," Thornberg, founding partner of Beacon Economics, tellsGlobeSt.com.
Thornberg is tossing out the predictions of a new normal basedon past pandemics and following behaviors. "Pandemics have beenwith humanity for as long as we can remember," he says. "We havebeen fortunate over for the last 40 years that for a brief periodof time public health got in front of it and all of the diseasesthat used to periodically rip through human populations had largelybeen subdued." During periods of disease outbreak, socialdistancing is common, but people have always continued living theirlives normally. "We have a long history of dealing with thesecircumstances, and history shows over and over again that peoplesocial distance when times are bad and then when things are good,they lived their lives again," he adds.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.