n. The negative impact of fear and anxiety on economic activity; the use of fear to sell products and services.
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Acting on the lessons learned from previous outbreaks, domestic and global actors are well prepared to deal with an outbreak of Nipah virus in India. But they fail to recognize the impact of downstream "fearonomic effects"—the economic consequences resulting from hysteria outbreaks, and propelled by misinformation—that lead to irrational decision-making on the part of both individuals and states.
—“Event: Pandemonium—Risk Factors for Future Pandemics,” Global Public Policy Initiative, June 13, 2017
Here’s a fearonomics snapshot: Halloween spending has risen from $3.3 billion in 2005 to $6.9 billion in 2015, according to the NRF.
—Tim O'Shei & Alyssa Fisher, “Horror meets fearonomics: Why we celebrate Halloween,” Buffalo News, October 28, 2016
With many outbreaks, especially of highly fatal diseases such as Ebola, fear is the biggest demon. This fear has led to the crippling of economies of Ebola-affected countries. This fear has cost Sierra Leone, Guinea, and Liberia 12 % of their GDP in foregone income and unraveled the years of progress made by these countries.
—Sulzhan Bali, “Lessons, Impact, and the 'Fearonomics' of Ebola in Nigeria,” Duke Global Health Institute, July 27, 2015
2008 (earliest)
I think Avinash Kaushik was right on target when he mentioned the HIPPO (Highest Paid Person's Opinion) in the room. If the HIPPO is fearful of the unknown and co-workers are fearful of the HIPPO. You've got trickle-down-fearonomics and hence, status quo.
—Stefan Holt, “Banner Advertising Is But One Small Component Of Digital Marketing” (comment), Six Pixels of Separation, December 10, 2008
One big lesson learned is the need to prevent panic during a public health emergency. The new phrase is to "fear-guard" a country. During many disease outbreaks, say experts, a “pandemic of fear” can be more devastating to a society and an economy than the disease itself.
—“A call to 'fear-guard' countries in a pandemic,” Christian Science Monitor, June 23, 2017
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