The unrivaled uncertainty of the existing circumstances with the COVID-19 pandemic raging throughout the world has turned this election cycle into a unique one in modern American history. The variety of topics to be considered by the voters is unprecedented, and the polarized views of society make the outcome even more unpredictable. However, a single theme that has always been among the decisive factors in domestic policies is economics. The assessment of the current economic state, along with the review of its expected trends, will definitely play a crucial role in the elections.
Evaluation of the existing economic conditions in the United States presents a significant problem for the potential voters due to the rapidly developing circumstances and the variety of biased and sometimes misleading partisan reviews. However, even during the period before the pandemic, the U.S. economy was not as prosperous as usually declared. Such indicators as the level of investments and capacity utilization demonstrated that the economy was “not operating at its full potential” and invoked a possibility of dipping into recession (McCormack & Novello, 2020, p. 74). The lack of efficiency fully displayed itself when the external circumstances placed a significant burden on all businesses. That made the previously admitted errors evident for many and resulted in a considerable level of dissatisfaction with the current developments.
Reviewing the economy’s role in the upcoming elections, it is worth mentioning its difference from all other critical factors. While the coronavirus pandemic may be substantially mitigated with the vaccine development and the race conflicts can be often prevented by better local management, the economy is different. The consequences of the current crisis will shape the future for several years, and the solutions need to be carefully planned and implemented. Understanding these particularities, the voters should pay specific attention to the economic policies presented by the candidates and consider them a decisive factor.
Reference
McCormack, M., & Novello, A. (2017). The true state of the U.S. economy. Challenge, 63(2), 60–76.