The economic impacts of the COVID-19 pandemic will be the focus of a virtual panel discussion tonight (Apr. 16), sponsored by University of Wisconsin-Stout’s Honors College and the school’s social science department.
The discussion will feature UW-Stout faculty members whose different backgrounds will provide diverse economic perspectives. It will run from 7 to 8 p.m. and is free and open to all.
Members of the public can access the discussion by clicking on its guest link.The event will also be available through dial-in at 1-571-392-7650, using the PIN 534 276 0299.
Panelists will include Chris Ferguson, associate professor of economics and the Honors College director; Tina Lee, associate professor of anthropology and program director for applied social science.; Gene Gutman, associate professor of supply chain management and director of the supply chain management undergraduate program; and Chris Marshall, senior lecturer in history.
The panelists will respond to questions and comments from the audience, which will also include members of the Honors College.
‘. . . tremendous economic hardship and uncertainty’
“The coronavirus pandemic has caused tremendous economic hardship and uncertainty, and we really don’t know yet the true extent of the impact and where this is all headed,” said Thomas Pearson, a professor in the social science department and assistant director of the Honors College.
“The impacts are registering globally and have the potential to devastate local communities in unexpected ways,” he said. “Few people are untouched by the economic crisis, and many students are worried about what this means for their future.
“Hopefully, this panel will help people begin to make sense of the economic turmoil. We also want to provide a space where people can connect and build a sense of solidarity, despite the social distancing we are all practicing,” Pearson added.
Likely topics
Among the topics likely to be explored are skyrocketing unemployment and impacts on the nation’s supply chain as a result of the pandemic.
Ferguson said he believes the stimulus package that Congress passed to help Americans was a good start but, to prevent a really long and brutal recession or depression, more is needed until unemployment stabilizes.
“We also crucially need federal aid going to state and local governments who are going to be hit very hard and employ a large sector of the economy,” he noted.
Ferguson said he plans to discuss rethinking the economy so it can be more resilient to future public health or natural disaster events.
“I think this is a time to look at some potential policies in a new light that we might not have taken very seriously previously,” he said. “Things like universal basic income, universal health care, a rethinking of the 40-hour work week and sick leave/family leave, etc.
“All of these things have been viewed as too expensive or too unpopular, but ideas along these lines might be just as important for the country as maintaining a stockpile of ventilators and N95 masks if we want to be able to be agile and quick in responding to future crises like this in a way that prevents the economy from crashing,” he said.
Lee brings anthropology perspective
Lee’s work as an anthropologist focuses on race, class and gender inequality in the U.S. and specifically on how public policies impact people who are disadvantaged by social structures.
“When people need their jobs to access health care, and we are seeing tremendous spikes in jobless claims, there is a problem,” she said. “Certain workers must put themselves and possibly their children at risk while others can work from home.”
Lee noted there is a disparity in infection, hospitalization and death between racial groups and income levels.
“In Wisconsin, we are seeing these patterns in racial disparities in Madison and Milwaukee. Here in Dunn County, similar patterns could emerge if we start seeing more cases,” she said.
“Dunn County has a relatively large percentage of people who are one or two paychecks away from being able to make ends meet, and we see disparities in who has access to high-quality health care by class, with people who make less money and who live in rural areas having less access,” she said.
The UW-Stout Honors College is observing its 25th anniversary this year.