Peter Orszag, CEO of Financial Advisory at Lazard, will be among the over 100 national experts taking part in the Virtual Summit on Health System Recovery from COVID-19 Pandemic organized by Global Health Care, LLC (GHC). The summit. which features over 40 sessions, takes place June 22 - 24 in the form of an online video broadcast which will be offered live and archived.
In this column for Bloomberg, Peter Orzsag introduces two perspectives of the Cape Cod Theory of the economic impact from the coronavirus pandemic. The first perspective suggests that the economic impact is like Cape Cod during the winter: The economy goes into a deep freeze, but then reopens the next summer. The second says it is like Cape Cod in the summer: this stoppage was unexpected and it’s not clear when the economy will bounce back. The key variable distinguishing the two scenarios, Orszag says, is how consumers respond: "Do people feel it is safe to return to previous activities, whatever the government does or doesn’t mandate?"