Coronaeconomy the beginning of new normality? – in search of a new conceptual order

Abstract

Purpose – The purpose of this article is to propose new concepts and a new order in terminology especially in regards to thinking about today's economy, i.e. the economy in the initial period of a crisis caused by the spread of the coronavirus. In addition, the authors propose the introduction of certain mechanisms that could not only support the economy, but also help the society deal with a new, unavoidable reality. Research method – Various research methods were used, including the critical analysis of the literature on the subject, historical analysis, the comparative analysis of functioning economic systems and tools of state interventionism used in times of economic downturns in Poland and other countries. Conclusions – Today’s economic crisis, in which the Polish as well as the global economy plunged, was caused by non-standard reasons, requiring the exclusion of the economic activity of entire industries. The effectiveness of fighting with this crisis will depend on how quickly we will be able to eliminate these restrictions and defrost the economy. Originality / value / implications / recommendations – the originality of the article is mainly due to its two advantages, namely the very topicality of the issues raised and the originality of the proposed new concepts recommended to describe today's economic processes.