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and other technologies occupy a more the recession will be serious in the USA, smaller in
prominent place in our lives. How will this the European Union, and small in China. However,
affect the labor market? a global recession is inevitable. It will undermine
Antonio Fallico: The current period of self- opportunities for economic recovery that are
isolation through which many countries go to export-oriented. This also applies to Russia, whose
one degree or another has shown the increasing large share of GDP consists of oil and gas industry
role of digital technology. This is remote work products, which operate to a large extent on foreign
from home, and distance learning, and the markets. Part of its economic indicators will directly
expansion of all kinds of digital services and depend on the restoration of external demand for
activities. After the completion of the coronacrisis, these products.
the extreme manifestations of this new reality will
fade into the background, but some will remain How do you evaluate the measures taken by
in everyday life. For example, I personally the government and the Bank of Russia?
do not believe in the great effectiveness of
distance learning: the quality of education that Antonio Fallico: Russia is ready for the
it provides is clearly lower. It’s like in the past current difficult economic trials, this
full-time and distance learning. But, apparently, is obvious. Comparison, for example,
distance learning with appropriate technologies will with August 1998 is inappropriate. The
be more widely represented than at the beginning of the existence of the EAEU market, with 180
current school year. Robotization of production using million people, can also be considered
increasingly innovative technologies, which increases a stabilizing factor for the participating
labor productivity, also began not today. As a result, countries. The Russian authorities, both state
unfortunately, many will lose their jobs. It is clear that and financial, are taking the right measures
this will open jobs in other industries and fields of to support business, relying, inter alia, on
the capabilities of the National Wealth Fund.
activity. This happened However, glitches are evident between the right decisions and their implementation. Credit
before, at every stage of vacations, various types of assistance, and even difficulties in donating blood plasma to people
the industrial revolution. who have been ill from the coronavirus, have identified a bottleneck: sometimes outdated, and
How many new jobs sometimes, not corresponding to the severity of the moment, bureaucratic practice. We will
will appear? And what have to seriously work on this.
about unskilled labor?
To what extent do new
activities compensate,
possibly for the massive
loss of work as a result
of robotization?

How will the
social structure of
society change?

This raises
another question.
Production products that have become more efficient and productive as a result of robotics,
who will buy? People who lost their jobs? Or will goods and services in the future world be
fundamentally different in quality and, accordingly, in price? As a result of a technological
breakthrough, social stratification and inequality will increase even more in such a parameter as
the quality of consumption? Therefore, I repeat, a fundamentally different system of organizing
the economy and society is needed. In the center should be a man. Then the robotics with
digitalization will be put at his service, and not vice versa.

How do you see the socio-economic situation of Russia and the EAEU after the pandemic?

Antonio Fallico: The world is entering a period of serious recession. What will be its
depth depends both on the speed of overcoming medical problems, and on the effectiveness
of economic support measures adopted by various states. By the way, the role of the state
in the economy has increased significantly in recent weeks. I wouldn’t use specific numbers;
they are different and based on different methods. But in general, it can be assumed that Rg.ru

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