Welfare state to avert an ‘economic cataclysm’
Santo Domingo.- The economic crisis that is causing the pandemic may generate a greater social magnitude than the health problem. The welfare state can be the element that helps governments reduce the impact in both terms.
So says Rafael Muñoz de Bustillo, professor of economics at the University of Salamanca, during the conference “Welfare state in times of COVID-19,” organized by the Ministry of Economy, Planning and Development (Mepyd).
He said the welfare state can act compensatory in two different ways: by reducing the impact of the pandemic in health terms, with a decrease in levels of morbidity and mortality, and by trying to prevent the health problem from becoming an impact that’s “cataclysmic for the economy.”