The COVID-19 pandemic is the most significant global crisis since WWII & the Great Depression. To deal with the Australian end of this global crisis the Government needed a short-term pandemic model & a short to medium-term economic model to bankroll the pandemic itself & to bankroll it’s immediate economic implications and to bankroll the medium-term economic aftermath. Morrison and Frydenberg had neither on the morning of 14 March 2020 and by the evening Morrison had his head around this. He barely blinked as he switched from Neoliberal to Post-Keynesian economics and set about salvaging this country first from the virus, then from the economic consequences of the virus, and then from the implications of the economics itself. He may well have done a John Curtin.
I make these opening remarks as people in business we all need to have our heads around the bigger macroeconomic question as we translate this into the microeconomics of our industries & enterprises. We all have a leadership role to translate this and lead our organisations through this period of transformation. We are the interpreters. Australia will be a different economy at the end of this and we will all have a voice and a role in that economy in a way that we have never had for a long time. If Morrison is clever this will strengthen our democracy not weaken it. The compromise is to and democracy will serve to strengthen the rule of law and democracy, not weaken them. It will become a much more inclusive economy in which the government intervenes in the critical variables that constrain do you like this. Liberty equality and fraternity remain pre-eminent virtues. We collectively have choices to make. The fact that we have this leadership position within our own organisations and industries puts a burden of responsibility on all of us.
My understanding is that COVID-19 is likely to take 200 days to go through taking us to mid-October. Maybe longer, maybe shorter ending successful the government is in containing this virus right now. Arguably, the more successful Morrison is now the longer this will take but I suggest we settle for 200 days. A nice neat round number we can all live with, a number that is short enough for hope not to completely evaporate and long enough to do something with it. My view is that we should put our organisations on a transformational and do something with these 200 days.
It is important to have something to show for this, some clear objectives during this 200 day period that we can actually achieve. Positive objectives & negative objectives. The positive adjectives are nice & warm and we are all familiar with these and we should not ignore them. Of course most of our previously we’ll articulated positive objectives have been swept aside by this crisis.