Coronavirus Pandemic and the Coming Disruptions in the Global Economy: Insights From Jeremy Rifkin's Theory of Third Industrial Revolution

Abstract

As the coronavirus pandemic spreads through the continents, it has dramatically disrupted everything in the global economy from stock markets and supply chains to oil and food prices, and in seeking to restrict the spread of COVID -19, governments are shutting down whole commercial sectors which could cause a huge recession in some countries as the United Nations have already warned. All these new circumstances have raised again the fundamental questions about the future of our global economy. Therefore, this paper has tried to make sense of how the post-pandemic global economy would look like by shedding light on Jeremy Rifkin’s theory of the new industrial revolution and the coming disruption in the global market.