2020 has been one of the most challenging of the past 10 years. The public health crisis sweeping the world has caused great harm to people and economies, directly and indirectly.

Fortunately, there are signs of hope—such as multiple potential vaccines on the horizon. That tells us that an economic recovery is on the horizon. However, it looks like the recovery will be uneven.

What is the K-Shaped Recovery?
There has been much debate about what the post-pandemic recovery will look like. The pessimistic view advocates for an L-shaped recovery (i.e., a dramatic fall and extended period of minimal growth). My view is that the K-shaped recovery seems more plausible. A K-shaped recovery means that some parts of the economy will recover and grow rapidly while other groups and industries will have a much slower recovery.

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