By now, we all have become well aware of how the pandemic is affecting different parts of the world. And it is no surprise that the economy is facing one of the worst periods of instability. Businesses have shut down, we still have no idea when the schools and colleges will reopen, the global trade rate has fallen by 13%, and this is just the beginning of it all. Experts are saying that it will take a minimum of 2 years for the global economy to recover from the effects of the pandemic. And that too if we consider the developed countries. The developing and underdeveloped countries may even take more than that. In the words of Gita Gopinath, the chief economist of the International Monetary Fund,
“This is a truly global crisis as no country is spared”.
Because of all these uncertainties and closing down businesses, millions of people all around the world have lost their jobs and those who were already not earning enough are probably going through financial crises. And one might think that all these financial problems might have led people to hold themselves back from giving donations and charity. Well, if you thought so that be prepared to be surprised. If anything, people are trying to be more generous. And not just with the ongoing financial crisis, but anything that can help with the underprivileged people of their community. Which includes, but is not limited to, raising their voices against racial discrimination.
Throughout history, Americans have shown their generosity in the most surprising times, whether it was the tragic incident of 9/11 or the disastrous Hurricane Katrina. And although the total number of people donating has decreased at times, research has shown that those who do donate, do so with the same amount that they were before.
Moreover, these crises bring forward some of the issues of the society that were being swept under the carpet before. With people being stuck at homes and having all the time in the world, they have been keeping themselves occupied by making themselves more aware of what is happening in their surroundings. They have been using their social media platforms to educate other people as well. And this awareness has pushed all these funding raising corporations, private or government, to do better when it comes to the impact and change, they are trying to bring. These corporations have gotten more careful with the issues that they address. Even the slightest loophole in their slogans or their work, and they might end up on the newspaper headlines the next day. On the other hand, showing your effort and hard work in all areas and showing more responsible behaviour is only going to earn you more trust in the people. Furthermore, these organizations are forced to find innovative and creative ways to make it easy for people to donate in these trying times.
Finally, giving back and helping others only causes more positivity and trust in the lives of individuals and we all could use some of that in these uncertain times. And hence, this is why charitable donations will thrive despite the economy.