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COVID-19: The Lessons We Should Have Learned from Existing Literature
1ESCP Europe Business School, London UK Campus, 527 Finchley Road, London, NW3 7BG UK.
Biophysical economics examines natural resource impacts on human well-being. Pandemics like COVID-19 highlight failures in preparedness and response, underscoring the need for global networks and funding to mitigate economic and resource costs.
Area of Science:
- Biophysical economics
- Environmental economics
- Ecological economics
Background:
- Human well-being is intrinsically linked to natural resources.
- Disruptions from natural resources, such as pandemics, significantly impact societies.
- Understanding the causes and consequences of these disruptions is crucial for biophysical economists.
Purpose of the Study:
- To analyze guidance from existing literature on epidemics and pandemics.
- To evaluate the preparedness and response to COVID-19 in light of this guidance.
- To highlight the economic and resource costs of inadequate pandemic response.
Main Methods:
- Review of twelve books on epidemics and pandemics.
- Analysis of cited sources for guidance on pandemic sources, spreaders, and responses.
- Assessment of global preparedness and response effectiveness.
Main Results:
- Existing literature offers substantial guidance for pandemic management.
- Many countries demonstrated inadequate preparedness and slow response to COVID-19.
- Failure to implement global networks and funding resulted in immense economic and resource costs.
Conclusions:
- Effective pandemic response requires adherence to established guidance.
- There is an urgent need for an implemented global network and dedicated funding for pandemic preparedness.
- Ignoring biophysical economic principles in resource management leads to severe societal and economic consequences.
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