Covid-19 Forces Unions and Workers to Adopt Strategic Financial Plans

By: pete marchese | May 19, 2020 |


Catalyze leadership for re-humanization

Each individual and organization in the nation is hit by extraordinary circumstances. The outbreak of
COVID-19 has unprecedentedly affected employers and employees. The impact on work is far more
complicated than just changing where we work and how we connect. For the first time for a long while
what work we perform is also different. Companies are manufacturing medical ventilators instead of
cars, or turning production lines focused on luxury fashion items to surgical masks and hand sanitizer.
While work, skills and focus relocate we are gazing at economic recession. As unemployment is
skyrocketing, labor unions are in a very difficult position, struggling to bring justice to the workplace
and social fairness to the country.

While individual business cycles in the economy are never the same, they often share a family
similarity. No reassurance, but the pandemic is an outside factor, similar to a war, election or global oil
prices, as such triggering an exogenous cycle. The good news is, that every economic expansion breeds
recession and contraction, and every GDP contraction breeds revival and expansion, said Samuelson
and Nordhaus, authors of Economics textbook. Relying on historical evidence I state, that the light at
the end of the tunnel is not an illusion, but the dark tunnel is. We can’t avoid business cycles, but with
better understanding of macroeconomics the government – by conducting fiscal and monetary policies –
can prevent shocks from turning into extended recessions and stop recessions from snowballing into
depressions. Humanity has to unite and cast aside divisions and conflicts. Unions, workers and
employers across the country need strategic financial plans, and in the future, more efficient savings
and investment portfolios.

I organize around the capacity to create solutions that include unprecedented events and believe in lifelong
learning and working alongside rather than over others. Now, seeing a bigger picture and taking
action contributes towards thriving again.

Donald E. Conrad
Conrad Capital Management Inc.
1377 Motor Parkway, Suite 406, Islandia, NY 11749

Blog, Economy, Financial Wellness

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