A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said.
Morgan Housel, partner at venture capital firm Collaborative Fund and author of “The Psychology of Money,” said in a phone call that the coronavirus crisis would lead to “a generation of supersavers” who were wary of taking financial risks.
“When you’ve suddenly woken up to the reality that the world is much more fragile than you once believed, you just have a much lower appetite to take risks about the future than you’ve had before,” he told CNBC.
“I think it’s going to lead to a generation that is less interested in taking risk, and they won’t mind if they’re leaving opportunity on the table because they’re just more and more interested in their downside protection than they were before.”
The new strain of coronavirus, which was first reported in the Chinese city of Wuhan in late 2019, has so far infected a million people globally,…