when the black plague killed a huge portion of the workforce of Europe, GDP probably shrunk significantly. The resulting labour shortage also give the nascent g

when the black plague killed a huge portion of the workforce of Europe, GDP probably shrunk significantly. The resulting labour shortage also give the nascent guilds so much bargaining power that a significant middle class arose and the Feudal system was seriously undermined. Covid was obviously a much smaller plague, but coupled with a lot of people retiring at once, it would probably give a modest boost to employee's bargaining power at the cost of GDP as a whole shrinking. So I predict we'll see a period of shrinking GDP and shrinking inequality. Still technically a recession, and not great if you're investor class, but not really impacting living standards in an adverse way for the rest of us.