Coronavirus: Why a Fear Frenzy Behaviour?

Because of the peculiar nature of the Coronavirus caused influenza, the movement of goods and human capital is going to be adversely affected in the world economy as a result of the falling human confidence at global level. The news related to Coronavirus have made human psychologically afraid about this particular flu which is not uncalled for. As a result, the oil and stock prices are now free falling across the globe. In India, Sensex has fallen by more than 5000 points in a few days. Same is true with global stock market. Most importantly, none knows where it all will stop?

From the below table it is very much clear that on the account of mortality rate, COVID – 19 is the least dangerous of all the above mentioned viruses that have hit the globe in last two decades. However, in terms of spread, it has travelled almost half of the globe. There is no continent with signification population where this influenza has not reached! So on the account of spread; it is perhaps the most infectious influenza in the written human history but not surely the deadliest.

The kind of panic and knee jerk reactions that this particular influenza has received is never seen before. Common man on the street, every organization in any nook and corner of the world, all the governments across the globe and economies are too concerned and have given knee jerk reactions to this influenza. So it is obvious that one wants to know what could be the reason behind this fear frenzy phenomenon. Such fear frenzy behaviours have never been witnessed.

Is it the over proliferation of the information through internet and social media during COVID – 19 in comparison to SARS, Swine Flu and Ebola? Or is it adversely affecting those economies on which world trade is dependent? Or is it really a global pandemic which can make the whole globe sick? 

Rajeev Upadhyay