The new coronavirus economy: A 'gigantic experiment' reshaping how we work and live
announced this week that its animated adventure “Trolls World Tour,” due for release in April, instead will be available for streaming. Such shifts, if they take hold longer term, could imperil movie theaters, especially small and independent ones that run on narrow margins based heavily on concession fees.
Some businesses might snap back to normal after a temporary reprieve of social distancing. But there are no guarantees how long this new phase will last, and many analysts acknowledge we don’t know what businesses will look like after the outbreak subsides. A world of new businesses and ideas are likely to bloom from the agony and opportunity of American isolation.
Nearly 40 percent of Americans were living paycheck to paycheck before the coronavirus hit, and there is widespread concern these Americans could lose their homes and may not have jobs to return to even after the pandemic subsides. Inequality could grow wider if big companies use the pandemic as a catalyst to automate more jobs and use more contract workers who don’t receive benefits and are easier to fire in a downturn.
The broader shift to remote work also could further erode U.S. workers’ place in the local ecosystem, leading to new waves of online outsourcing. Disney — which has closed theme parks, suspended cruises, canceled events, delayed film premieres and mothballed production of most of its movies and TV shows —last week that the pandemic could lead to major “changes in consumer behavior.”
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