COVID 19: SOME COGNITION OF ECONOMIC AND POLITICAL UNCERTAINTY AND ITS CONSEQUENCES ON THE GLOBAL LEVEL
COVID 19: SOME COGNITION OF ECONOMIC AND POLITICAL UNCERTAINTY AND ITS CONSEQUENCES ON THE GLOBAL LEVEL

Summary/Abstract: In this paper, the authors deal with global economic and political problems caused by the outbreak of the COVID-19 pandemic. The crisis caused by the irresponsibility of global actors, international organizations and systems within states, requires space for questions to be answered and realistic predictions. So far, the community of experts has not faced anything similar, while politics has no answers to the questions of what economic consequences the crisis will leave. The health system at the global level has been hit by the struggle for multipolarity without a common response and agreement of key actors. For these reasons, people are more influenced by the media than by the experts that should provide broader and more useful answers. How the global economic system will survive and overcome the crisis ahead and what the difference is in the historical experiences of major catastrophes, and what the choices and alternatives are, remain a challenge for most experts. Endangering the most important economic activities and reducing labor productivity on the one hand, confronting important political decisions on the other, are issues that prevail and correspond to the interpretation of a common future and both orders - economic and political, in accordance with the future whose creators will be the consequences of pandemics. Starting from the fact that the crisis caused by the COVID-19 pandemic brought not only a blow to global supply and demand, but also an attack on the very assumption that we operate in a predictable environment, the authors analyze this global social context based on economic uncertainty and political paradigm presenting their views on the question whether the world has more opportunities after a pandemic.

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