The least we can say is that the current situation (after 8+ months of the pandemic) and the difficulties coming ahead are not conducive to greater wellbeing and happier societies. Indeed, there is so much going on that makes us collectively unwell and affects our sense of subjective wellbeing. In no particular order, some obvious “wellbeing-crushers”: anxiety, lockdowns, social and political polarization, deep uncertainty about the future, fear of unemployment, fear of COVID-19. The list goes on.

Where does wellness stand in the midst of all this? From an economic reasoning point of view, the fewer the opportunities for wellbeing, the greater the appeal of wellness (that is: the active pursuit of activities, choices and lifestyles that lead to a state of holistic health).

When something becomes rare or scarce (as wellbeing is at the moment), it simultaneously becomes more valuable, so it is only natural that the current scarcity of situations propitious to wellbeing leads to an increase in the value of wellness.

For this reason, the pandemic is so bullish for the wellness industry at large. As we have argued these last few months, there are two major and clear industry winners from COVID-19: (1) tech (because it makes our lives easier) and (2) wellness (because we value what it can offer us far more).

In aggregate, the pandemic has woken us up to two BIG things: (1) the critical importance of nature—the wellbeing of our planet is inseparable from our own individual wellbeing and (2) the critical importance of wellness as a preventative “tool”—wellness precedes health and not vice versa. COVID-19 has made it clear that wellness habits, apart from improving healthy lifespans, also increase resilience.

 

2 thoughts on “Laws of Economic Scarcity: The Pandemic Crushes Wellbeing, So Wellness’s Value Surges”

  1. This is lockdown period only e social distancing only all discipline maintenance every time am switch systematic social distance mental only only follow this is justified to the social distance maintenance activity mood only all men not everytime lockdown ulongo this is this is just now only lockdown period just original motivation maut

  2. .. would this not be coming from a “have” point of view? Those of us either terrified of homelessness .. or anxious for our off spring’s rent being paid are NOT worrying about wellness. In fact it is amazing that all the covid communication says NOTHING about trying to keep base Health in order so you have some immunity if get the virus. If one is barely paying rent how does one afford wellness programs .. or even just yoga and smoothies? Sure .. you are right the HAVE”S will get more massages .. but what about NORMAL struggling masses? Governments have no REAL Health Tools for us to access .. and I can not even find a way to communicate my Health Hub for lower budget people. very very sad!

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