Success and failure
The opening sentence of Tolstoy's Anna Karenina is amongst the most wellknown in world literature, however, it has a distinctive magnitude to economists, for whom it represents a precept that can be utilized in more than one context and field of study. The Anna Karenina precept states that success requires the complete achievement of a set of vital conditions, and the absence of any one of these prerequisites will lead to failure. Consequently, successes are all basically similar, as they replicate the presence of the identical array of factors, whilst disasters are diverse, with every stemming from its personal special deficiencies. The world financial disaster surrounding the coronavirus pandemic inverts the Anna Karenina principle. The motives of the pandemicinduced shock lockdowns, border closures, the give way of trade, journey bans, and monetary market volatilitywere frequent throughout international locations and regions, whilst the projected recuperation will be marked by way of the divergent situations of every u . s . and the idiosyncrasies of its coverage response
