Economists at the University of California, Los Angeles, and a Yale professor and social epidemiologist predict a second "Roaring Twenties" as soon as the coronavirus pandemic comes to an end.
The year when that happens differs based on several factors, though, including the mass vaccination of Americans against COVID-19.
Yale professor Nicholas Christakis in his book "Apollo's Arrow: The Profound and Enduring Impact of Coronavirus on the Way We Live" predicts a boom in 2024.
"During epidemics, you get increases in religiosity, people become more abstentious, they save money, they get risk-averse, and we're seeing all of that now just as we have for hundreds of years during epidemics," he writes, per The Guardian.
"In 2024, all of those [pandemic trends] will be reversed," he said. "People will relentlessly seek out social interactions."
That could include "sexual licentiousness," liberal spending, and a "reverse of religiosity."
UCLA economists in mid-December issued an optimistic forecast, predicting the U.S. economy would experience "a gloomy COVID winter and an exuberant vaccine spring," followed by robust growth for some years. The rebound, they say, should begin in spring 2021 with robust growth of 6% in the second quarter.
"With a vaccine and the release of pent-up demand, the next few years will be roaring as the economy accelerates and returns to previous growth trends," senior economist Leo Feler wrote in the UCLA Anderson forecast. "We expect a surge in services consumption and continued strength in housing markets to propel the economy forward."
In the Roaring Twenties, a surging economy created an era of mass consumerism following World War I and the Spanish Flu pandemic of 1918, which infected an estimated 500 million people and killed as many as 50 million.
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