Would Economies Have Suffered More With No Internet?

Discussion in 'General Trading Discussion' started by Buyonthedips, Mar 15, 2020.

  1. Buyonthedips

    Buyonthedips Senior Investor

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    Recently the online environment has been criticised heavily after many leading retailers were forced to close their doors. The idea that new up-and-coming online companies such as Amazon could create hugely competitive businesses with significantly reduced base costs, compared to physical retail companies, was initially dismissed. However, fast forward a few years and we have seen many of the best-known names in retail fall by the wayside.

    The question now, where would the worldwide economy be today with no Internet? The coronavirus would literally have stopped economies in their tracks and surely lead to an even greater collapse?
     
  2. gowiththeflow

    gowiththeflow Senior Investor

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    The simple answer is that the economic crisis sweeping the world would be 1000x greater without the internet. The ability to work from home is something that all companies will need to consider in the future should we experience anything like this again (probably when not if).
     
  3. longtermbull

    longtermbull Administrator Staff Member

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    I think we will see a huge increase in the number of people working from home after the coronavirus issue is over. For many it has been seamless and very very productive.
     
  4. gowiththeflow

    gowiththeflow Senior Investor

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    There is no doubt that the ability to work from home has helped many many businesses continue trading during the ongoing difficult times. Thank god for the internet!
     
  5. tradermuslim

    tradermuslim Active Member

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    Yes, I think many people will be at home and will look for what to keep themselves busy. Forex can kill boredom at the same time make you money.
     
  6. gowiththeflow

    gowiththeflow Senior Investor

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    Can you imagine how the worldwide economy would be today if it hadnt been for the internet? While the internet has its many flaws, it has to a certain extent shielded us from more trouble.
     
  7. fxstreet

    fxstreet Senior Investor

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    The problem is that many firms do not fancy the idea of its staff working from home. I remember applying for a job I can do quite well from home, but the company still prefers my presence in their office. Right now that their offices are shut down, won't the staffs be working from home? It was painful. Yes, maybe they'll reconsider this option after this coronavirus saga.
     
  8. longtermbull

    longtermbull Administrator Staff Member

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    I dont think we will ever beat the cumulation of minds and people in an office environment to better business activities but working from home will be an option for more and more people going forwards. Also, after this is all over we will see changes to business practice and insurance policies - companies will need to be better prepared in the future. Although to be fair nobody really saw this coming.
     
  9. Buyonthedips

    Buyonthedips Senior Investor

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    Tentative signs that thigns are starting to improve - Italy will be relaxing the lockdwon on Monday for certain types of shops, books stores and childrens clothes included. Too soon or about time?
     
  10. longtermbull

    longtermbull Administrator Staff Member

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    I think there will be many eyes on Italy to see if this move is too soon or correctly timed. A second wave of infections would be catastrophic!
     
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