Uncertainty, Anxiety and the Post-pandemic Economic Environment

Roberto Di Quirico

2023-01-01

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Abstract

There is ample evidence from medical and social sciences that economic crises impact on individual mental health. This makes neuro-psychiatric dynamics and individual mental health, particularly that of entrepreneurs, relevant for economic policy designers. At the same time, economic policies can have an impact on mental health, reducing or increasing economic uncertainty and, consequently, changing the level of anxiety in individuals. The COVID-19 pandemic resulted in a severe economic crisis and a drastic transformation of the European economic environment. However, the severity and impact of this crisis differ from many other economic and financial setbacks of the past, including the one resulting from the 2008 crisis. Moreover, the consequences of the pandemic on mental health will add to the longterm consequences of the 2010s crisis and the effects of the war at Europe’s Eastern borders. Together, the three crises may increase economic uncertainty in the postpandemic World and its impact on mental health. This essay examines the connections between economic uncertainty, anxiety, and mental health. It suggests considering some relevant elements to estimate the impact of economic uncertainty on individual mental health. Also, hypotheses about the consequences of the “three crises shock” on mental health in the post-pandemic World are advanced. Finally, the essay helps anticipate how the EU anti-crisis economic policies may generate needs and opportunities for mental health care in national health systems.