ABSTRACT
This chapter deals with the profound impact of the COVID-19 pandemic on the economic processes. The analysis covered the issues concerning the world economy, the EU economy, as well as the Visegrad economies. The nature of economic shock of having caused by the COVID-19 pandemic has been examined in this chapter. This chapter also provides a description of the short- and long-term consequences of the economic shock caused by the COVID-19 pandemic. It further discusses anti-crisis measures taken in the field of fiscal and monetary policy at EU level and in selected countries. A crucial aspect of consideration presented in this chapter focuses on proposals to revise the dominant theories of neoliberal economy and its constitutive elements. A substantial part of the discussion refers to the notions of shaping the foundations of a new global economic order in response to the economic crisis caused by the COVID-19 pandemic. The new model is constructed, to some extent, as opposed to classic economics and neoliberal economy. At this stage it is difficult to forecast precisely the consequences of this paradigm shift, but certainly they will be meaningful for the global and national economies.
