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COVID-19-has-revived-the-social-contract-in-advanced-economies-for-now-v3.pdf?shouldIndex=f
auto-generated 31-Jan-2021
COVID-19 has revived the social contract in advanced economies for now. What will stick once the crisis abates? Massive government spending has sought to shield individuals from the economic consequences of the pandemic, reversing a long-term trend of institutional pullback in the social contract. by Anu Madgavkar, Tilman Tacke, Sven Smit, and James Manyika December 2020 Kbl Studio/EyeEm/Getty Images Since the onset of the COVID-19 pandemic, G-20 economies have announced fiscal packages already

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contract will this pandemic europe and us employment contract during this crisis incomes in the united germany and the united europe and the united states and the united united kingdom united states united states

Sources: McKinsey

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You can download the excel file containing Categories, Goals, Measures and Actions. Please use Lunge App, to try the pathway data.
This section lists the Pathway type, Priority/ function areas, Sectors/ fields of life and People/ roles for the pathway.
Type:   Strategies
This section lists the Categories, Goals, Measures and Actions included in the pathway.
Goals:   address immediate problems   abate government spending   use main approaches   protect retention schemes   ensure affordability access   rethink core role   expand sick caregiver   take main forms   guarantee health coverage   expand polarization stagnation   hit more vulnerable   launch support program   exacerbate economic divisions   extend insurance benefits   keep employment rate   unleash new era   stick crisis institute   increase gross position   play direct role   describe income trend   increase savings rate   receive basic income   extend protected policies   announce exceeding packages   increase giving chances   strike including trends   thank business analyst   set basic scheme   rekindle many vulnerabilities   jeopardize financial security   lowincome reduced inequality   address critical question   shield employment income   support income employment   combat inequality wealth   reverse twodecade trend   play important role   see hit evidence   give percent discount   increase replacement rates   pay insurance contributions   guarantee including protections   use defined aspects   reduce eligibility thresholds   retrain local workers   resurface many questions   provide additional 600   tell similar story   face imposed pressure   open new era   address underlying issues   cover income support   address new challenges   protect employment status   mean employment protection   act protection program   spend additional 2343   subsidize including wages
Measures:   modern system   personal income   economic hardship   huge packages   low income   social policies   real estate   new skills   pandemic economies   high income   affordable housing   new realities   unprecedented fashion   small businesses   orient measures   ethnic minorities   third quintile   great capacity   renew contract   asian backgrounds   continue focus   high earners   average countries   economic crises   retention schemes   many countries   social spending   everlarger proportion   institutional pullback   past years   record levels   economic aspects   black asian   define aspects   long view   economic impact   cumulative increase   more people   liquid wealth   basic income   public spending   key issues   vulnerable workers   most countries   new challenges   financial crisis   worker consumers   fulltime employees   massive spending   discretionary goods   unemployment benefits   standstill governments   disproportionate blows   gross source   pandemic businesses   important role   replacement rates   same degree   unemployed workers   studioeyeemgetty images   net wealth   full time   second war   overall level   private construction   local workers   herd immunity   income support   exist laws   universal income   contribution support   large swaths   rapid gains   great depression   unemployed people   continue employment   many goods   first decades   fast recovery   insurance contributions   employment status   economic analysis   usual earnings   covid19 testing   bottom quartile   covidrelated treatments   increase spending   many questions   basic goods   essential element   public debt   short term   macroeconomic trends   bottom threefifths   steep falls   fourth quarter   unweighted increase   increase protections   economic prospects   precede years   advance countries   wealth inequality   economic crisis   impact payments   expand insurance   largescale interventions   public sector   primary residences   large leaps   well being   recent index   new role   institutional arrangements   underlie issues   overall points   low spenders   polarize rate   key roles   new opportunities   stringent conditions   significant variance   longterm trend   extraordinary speed   structural changes   jobretention scheme   affordable prices   underlie structures   rend increases   business analyst   full pay   deep divisions   mandatory pensions   remain income   additional support   few cases   basic needs   institutional intervention   economic risks   ethnic backgrounds   many governments   broad concept   percent discount   protection program   substantial role   shortterm effects   reduce inequality   recent years   unprecedented growth   high spenders   financial support   everyday life   robust infrastructure   significant consequences   advance economies   corporate decisions   longterm challenges   improve protections   insurance benefits   european countries   economic fallout   real income   universal coverage   fulltime workers   such programs   adjust basics   young people   come decade   first half   pandemic year   real wealth   real terms   fiscal spending   subsidize rent   longterm contracts   technological disruption   annualize basis   direct role   poor citizens   same threefifths   gross position   high spending   economic divisions   main approaches   new era   particular focus   longterm solutions   sick leave   longterm sustainability   active programs   average increase   comparable data   female participation   support program   past decades   unprecedented support   economic security   basic housing   large proportion   vulnerable groups   mental programs   nordic welfare   absent gains   disposable income   evident issue   global crisis   critical question   massive movement   available infrastructure   preventative treatments   hard time   link data   digital identification   low spending   private sector   financial sustainability   right infrastructure   income stagnation   immediate effects   exist benefits   healthcare system   increase incomes   work programs   senior partners   critical goods   economic roles   same period   median income   permanent features   median earnings   sound model   previous wages   great fraud   financial security   unemployed individuals   sudden movement   overall wages   sharp fall   health coverage   largescale crises   digital channels   institute analysis   disaggregate data   government spending   debt position   median wealth   financial infrastructure   saving rate   employment rate   first months   first years   clear evidence   total source   institutional support   large item   national contributions   last way   quarterly income   scarce data   recent test   remote work   21st century   fiscal packages   basic necessities   worker schemes   annual share   last months   weekly earnings   more savings   occupational transitions   social contract   global trends   large extent   linger challenges   historic highs   individual status   main forms   financial assistance   net rate   bottom percent   fine targeting   first quarters   same quarter   second quarter   insurance companies   economic growth   middle income   economic activity   employment protection   immediate problems   similar story   pay leave   economic consequences   onetime bonuses   eligibility thresholds   third share   third quarter   les protection   total spending   long trend   liquid savings   long term   huge significance   usual wages   economic realities   rise participation   core role   economic arrangements   stable incomes   shorttime programs   social arrangements   increase expenditure   lowerincome workers   corporate profits   lesser degree   holistic understanding   basic scheme   longterm consequences   many vulnerabilities   income scheme   aggregate income   exist channels   direct support   multiple facets   income trend   business model   several ways   significant changes   social security   many ways
Actions:   put scheme   improve benefits   increase increase   impose conditions   study outcomes   hit vulnerable   guarantee testing   double savings   improve contract   receive euros   provide infrastructure   make changes   support employment   leave workforce   address problems   reduce fraud   translate them   leave minorities   end crisis   absorb proportion   revive contract   claim benefits   face challenges   provide assistance   guarantee employment   address challenges   spend spending   shield individuals   announce packages   cover percent   reverse trend   strike trends   equaling those   take forms   tell change   cut costs   shield income   combat wealth   protect schemes   tell story   give degree   rethink role   receive income   deploy them   expand program   earn 75000   estimate trends   launch program   protect which   select people   enable one   test measures   survive crisis   safeguard aspects   require companies   support employees   keep rents   target benefits   study governments   keep rate   take view   enable savings   subsidize hours   provide workers   protect incomes   mitigate hardship   see evidence   generate increases   give question   extend benefits   need them   support savers   cover support   stabilize incomes   downshifting careers   increase position   bring economies   jeopardize security   support households   pay contributions   stick institute   support one   subsidize wages   bring immunity   use approaches   protect status   support system   guarantee coverage   struggle retailer   cover treatments   increase rates   support tenants   extend policies   stick which   mean protection   increase rate   provide bonuses   face pressure   keep jobs   give discount   pay salaries   thank analyst   slow recovery   exacerbate divisions   pay more   suspend increases   account prepandemic   provide weeks   lose jobs   shield images   thank tagore   protect individuals   play role   rebuild europe   accelerate automation   exceed trillion   act program   retrain workers   exit crisis   support consumers   take history   adapt them   open era   spend which   get covid19   form basis   improve efficiency   reserve covid19   provide 600   reverse arrangements   provide days   reach levels   address issues   guarantee protections   use aspects   support payments   enable provision   strengthen contract   account change   guarantee needs   expand caregiver   combat it   receive subsidies   weather crisis   lowincome inequality   support programs   bring changes   suspend foreclosures   study intervention   describe trend   provide protection   support individuals   spend 2343   address effects   focus efforts   support workers   provide forbearance   cover facets   arise what   address question   stick workers   stall careers   earn what   shield groups   innovate covid19   take blows   resurface questions   increase chances   teach us   spend less   take average   strengthen prospects   set scheme   raise expenditure   provide subsidies   increase spending   create initiatives   trigger shifts   take place   lowincome individuals   retain employees   reduce thresholds   abate spending   unweighted increase   provide businesses   unleash era   have time   ensure access   expand stagnation   pay weeks   rekindle vulnerabilities   drive inequality   exhibit 3
This section lists the details about pathway-specific attributes.