Economic Resilience: Introduction

Doctor Boris Cyrulnik is a French Jewish ethologist, psychiatrist and neurologist who survived world war II as a child which inspired him to further develop the concept of psychological resilience. Psychological resilience is the capability to develop psychological and emotional coping mechanisms to deal with and remain calm when confronted with a stressful/traumatic situations, and recover from them without long-term negative impacts.

The Coronavirus has created a crisis for entreprises and the individuals working for them, adaptability is key to survival. Entreprises are going to have to adapt to a new way of functioning changing their import/export, outsourcing, travelling, and other habits. Unfortunately many small entreprises and startups are not going to survive the pandemic, and many people are going to lose their jobs. This is where resilience comes in people as individuals and together as societies are going to have to change their values.

Changing values build the coping mechanisms that help get through a crisis, cultures that view bankruptcy as a failure are going to have to change their perspective and view it as learning experience. Individuals are going to have to slow down and redefine their values in life, reduce consumption, adapt their goals to the current global economic climate and show innovation in order to overcome this crisis.

Questions for further study:

Are people with a strong psychological resilience more likely to from the economic damages the coronavirus has caused?

Will the coronavirus change the Swiss perception of bankruptcy into something more positive?

Which sector of the economy has proved to be most resilient in the past?


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