https://www.scientificamerican.com/article/if-the-world-fails-to-protect-the-economy-covid-19-will-damage-health-long-into-the-future/

The COVID-19 pandemic is, first and foremost, a health crisis. However, it is rapidly becoming an economic one too. This is not, of course, the first global economic crisis. However, this time it is different.

The 20th century experienced the 1929 Wall Street crash and the 1973 oil-price shock, as well as numerous regional crises in East Asia, the former Soviet Union, and Latin America. The early years of the 21st century saw the global financial crisis that started in 2007. Each of these crises has been studied in detail and, while economists and politicians might disagree about how to respond, often reflective of their ideological perspective, there are at least a range of measures that they can select from.