VIII. Living with COVID-19: Entering the “New Normal” Era in France

Abstract

The COVID-19 crisis is changing our world. The measures taken to tackle it have not only led to restrictions of freedom and temporary social isola tion. They have also plunged the global economy into a deep recession. Even if its extent cannot yet be predicted 1 -it will leave deep scars.Deliveries are cancelled at short notice, production comes to a standstill, and the demand for products and services suddenly stops. Companies and self-employed persons are affected in different ways. While -as in most cri sis situations -some even benefit from it, others are left without a job and income overnight. In any case, the measures taken to fight the pandemic will only be temporary, even if the process may take longer than many expected when the measures were first implemented, and the economy and society will recover. What the long-term repercussions of the interim shutdowns will be and what the 'New Normal' will look like is hardly foreseeable today. Nevertheless, in times of crisis it is an obvious strategy not to leave the economy to its own devices, but to maintain instead capacities and to ensure that they can be used again later. However, this can be pursued in different ways and with various degrees of vehemence. In this respect, the corona crisis is no different from any other economic slumps triggered by external shocks.A look at the development of the unemployment rate before, during and after the financial crisis of 2008, which is shown below, is revealing: The curves can be seen as symbolising different social policy approaches. I.1.