Question

  Briefly discuss five (5) ways in which economic planning can be used to reduce the economic impact of global pandemics such as the Corona Virus in the future.

Answer 1

1. Disease Surveillance: Investment in Primary health workers for their skill development so that they can identify the symptoms and suggest relevant treatment. this will help in forming another layer of defence for fighting pandemics in the future.

2. innovating regulating technologies: the government must come up with better technologiy to link health care workers and patients online wherein doctors could be able to identify the symptoms and eventually the disease online only and treat the patients while mainting social distancing. this will help in providing safety to doctors and other staff as well as ensure quick precautions and treatment to people, thus, discouraging the spread of a pandemic in the future.

3. developing sustainable infrastructure: investment in long-term fixed assets like building infrastructure will generate employment in an economy, encourage more inventions and facilities to people. when people are financially stable, they will be able to bear the harmful impacts of a pandemic outbreak for a longer time and the economy would also not be as worst hit in the future as we are facing now,

4. securing the most vulnerable: it is mainly the poor who are worst hit by the pandemic both because of low sustainable income and unhealthy and unhygenic way of living. therefore, it is very important for the government to back the poor with ample financial support in case a pandemic hits in the future. the government must ensure that while fighting the pandemic, the poor does not die out of hunger. Also, access to clean water, air, and basic medical facilities for all to maintain a good immune system and must be ensured by every government.

5. increased investment in healthcare sector: the focus of countries has been mostly on strengthening its military power. A lot of investments are made in arms and ammunitions. Healthcare sector is equally important as defence. Maintaining ample medical facilities like number of ventilators, beds, and investment in medical research and development is very important. Therfore, the government must increase its share of investment in the healthcare sector to avoid a situation of panic in a pandemic outbreak and ensure effective treatment.