The COVID–19 Pandemic’s Impact on the Social Economy in European Countries

Abstract

Since the outbreak of the COVID–19 pandemic, there have been 1 billion identified cases and more than 2 million deaths around the world. The current global problem of the pandemic, with the introduction of unpopular measures such as border closures and total quarantine, revealed a dilemma between economic growth and maintaining human health and intensifying traditional global problems such as hunger, poverty, and social inequality to new levels. Even countries with social economic models were confronted with the negative effects of the pandemic. The aim of the article is to examine the developmentof social economy model factors (Liberal, Continental, Scandinavian, Mediterranean, and Transitive) during a pandemic. The objects of study arecountries thatare centers of social economy models (Belarus, Slovakia, Ireland, Sweden, and Poland). The research method is factor modeling of global and national (local) social factors thathaddifferent consequences of the pandemic in the countries. Countries with different social economy models can use the results and recommendations to develop social policy to counter the pandemic.

Keywords

• social economy models
• health care
• global and local social factors
• pandemic
• factor analysis
• factor loading