By Jeff Buckstein
The global Covid-19 pandemic has resulted in multi-jurisdictional, government-mandated temporary shutdowns of many businesses deemed non-essential. This has cut an enormous swath out of the world’s capitalist economies.
An unprecedented level of government assistance to both businesses and employees has followed. In Canada, key government measures include payments to businesses as an incentive to hold on to staff, as well as emergency cheques for millions of employees out of work because of the social distancing requirements now in place to try and reduce the spread of the deadly influenza.
“We’ve got a lot of people who are staring at lost income from employment or businesses being shut down, and we’re trying to prevent hardships or economic collapse by providing something to them,” says Andy Bauer, an assistant professor with the University of Waterloo’s School of Accounting and Finance.