LEVATUS Investments | From Mitigation to Rejuvenation

The Bottom Line: As people around the world emerge from this tragic health crisis there will be lasting change and hopefully a renewed sense of common purpose and connection.

Photo by Joel Holland on Unsplash

---

“If you’re going through Hell, keep going.”

— Winston Churchill

Author:

Keith Savard

Chief Research Officer

ksavard@levatuswealth.com

While the words of Winston Churchill are certainly appropriate at this time, the question is when we ‘keep going’ where do we wind up? For all the talk of doom and gloom, we at Levatus feel that the aftermath of Covid-19 will create a number of opportunities for improving our quality of life and our general state of well-being. We briefly look at seven areas where we see potential change for the better.

Manufacturing

One lesson that we have learned from this pandemic is that manufacturing is important and some aspects of it must be done at home. Although globalization has brought the world many benefits in terms of living standard, it is not without its shortcomings, particularly as it relates to safety, health and security. Sometimes “just in time” is trumped by “just need it.” We expect to see more manufacturing done in the United States that provides better paying jobs in more rural areas of the country.

Infrastructure

If there is a fourth part to the Federal government support program, which seems likely to us, the economy would be greatly served if the installment focused on infrastructure. Not only will this help to boost employment—which is subject to debate by economists—it will also contribute to an increase in factor productivity. Provided that infrastructure is done on a large enough scale, it should enable American manufacturing to be more competitive with manufacturers in Asia.

Healthcare

With many people requiring hospitalization as a result of the coronavirus, the question once again has arisen how best to provide healthcare for the entire population. This debate has been going on for several decades. What is different now is that we hear and see every day on the nightly news and in social media stories of those victims that fall through the cracks because they don’t qualify for Medicaid or are unable to afford private insurance. The President has acknowledged this is a serious issue, and he has committed to addressing it.

Jobs

For those who have lost their job for the first time, the importance of having a sound safety net has come into focus. For those on hiatus from work, the crucial role that it has on self-worth and a sense of contributing is gaining attention. A newfound appreciation for those previously overlooked like grocery and pharmacy store workers who are now serving us at great personal risk is a testament to the dignity of work. As we assess the impact the coronavirus has had on jobs, it hopefully will lead to a spirited and informed debate on the pros and cons of establishing some form of universal basic income and will remind us that every job counts.

Preparedness

When we have the opportunity to look back at how the coronavirus was handled at various government levels there will be plenty to criticize. From a lack of consistent information and guidance to a lack of preparedness, government officials were often less than reassuring to those they serve. We believe that one of the top priorities of any committee or commission established to review this crisis, is to make recommendations how to improve the country’s preparedness for a pandemic. The effective procedures of Singapore, South Korea and Switzerland should be examined closely. Efforts to build on the private-public partnerships would be helpful. Also, we can see a much larger role for the use of big data and artificial intelligence that will require the participation of government, business, foundations and active investors.

Community

As is most often the case in a crisis, we have seen a rise in the spirit of community. This extends from the neighborhood and towns right through to the national level. While some might not have had the opportunity personally to serve others, everybody certainly has seen or heard many examples of service and willingness of people to do their part even if it is just following the rules to stay at home. However, as is mostly the case after a hurricane or wildfire or something even as horrific as 9-11, the spirit of community recedes as people go back to their usual routines and responsibilities. Perhaps this time will be different as Covid-19 has touched every individual and family in one way or another. It is a teachable moment for our children and each of us, that serving others is a noble calling and is a benefit to our community and our country. Who knows, even our elected officials might be able to see the wisdom of this approach.
Liberty and freedom. It probably would be safe to say that many of our citizens have a newfound appreciation for liberty and freedom. Although this contemporary interpretation might not be the same as our founding fathers thought about it, nevertheless people today see liberty and freedom as a human right not bestowed by government. As we move forward in our war against this “invisible enemy” of Covid-19 and others to follow, we believe that our fellow citizens will be more united in thoughtfully addressing our common causes. This sense of community will be a powerful positive in terms of quality of life everywhere.

Meet the Author

Experience, Thoughtful Analysis, Trust

WAYS TO SHARE