A handful of events in the last century rewrote the rules of business, finance and economics, whether the people living through them knew it or not.
The upending of the world order following World War I. The U.S.’s exit from the Bretton Woods system of fixed exchange rates in 1971. The rise of a new, more pragmatic leader in China during the late 1970s. The global financial crisis triggered by the 2008 collapse of Lehman Brothers.
The Covid-19 pandemic will undoubtedly be remembered as a similarly momentous event, with full repercussions that likely won’t be understood for decades.
It will change where we live, how we shop, how fast new drugs are developed, where we go to college and what we expect from the government. Below, The Wall Street Journal’s Heard on the Street team provides an analysis of seven ways in which our world will never again be the same.
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Appeared in the June 26, 2021, print edition as ‘7 Ways Our World Has Changed.’