BOSTON (CBS) – The United States economy has taken a beating over the last year as the COVID pandemic raged. But with light at the end of the tunnel, what will the economy look like in a post-pandemic world?
WBZ-TV political analyst Jon Keller discussed the economic outlook with Peter Cohan, a Babson College lecturer and author of the book “Goliath Strikes Back: How Traditional Retailers Are Winning Back Customers From E-commerce Startups.”READ MORE: Mass. To Receive Significantly Less Johnson & Johnson COVID Vaccine Doses Next Week
“There are some companies that have done spectacularly well, have been much better off because of the pandemic,” Cohan said. “There are some who are in huge trouble because of the pandemic. And there are some in the middle, who have repositioned their business and are now doing much better than they were before because they were able to change what they were doing to take advantage of the needs during the pandemic.”
Cohan anticipates there could be a period he calls the “Roaring 2020s.” Many people who were fortunate enough to keep their jobs were able to pay down debt, increase their bank accounts, and not spend as much.READ MORE: Dorchester Grandmother Killed In Shooting While Sitting On Her Front Porch
“Those people are basically a whip ready to uncoil. As soon as they can get out there, they’re going to be doing all the things that have caused part of the economy to get killed,” Cohan said. “Anything having to do with being socially close together will suddenly become hugely popular and will experience a huge increase in sales.”
Among the industries Cohan expects to take back off quickly are things like cruise ships, airlines, concerts and sporting events.MORE NEWS: Coronavirus In Massachusetts: Today's Developments
Keller @ Large: Part 2