‘Coronavirus worse for the economy than war’

'Coronavirus worse for the economy than war'

Economics Editor Adam Creighton says the coronavirus pandemic is having a more devastating impact on the world economy than a war.

“People keep likening this to a war, but I mean look at the economy in a war, it’s the complete opposite – the economy’s so busy in a war,” he said.

“In the second world war in Australia the jobless rate was one per cent, and that’s very very different from what it’s going to be soon.

“In a war people still go out, they still socialise.

“Swathes of the economy are being forced to shut down and the ripple effect of that is just extraordinary.”

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