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This is a massive question: how do we nearly shut down an economy and still meet people's basic needs? Today's crisis is not 2008's crisis. The economic chang
by heymijo 7y ago
This is a massive question: how do we nearly shut down an economy and still meet people's basic needs?
Today's crisis is not 2008's crisis.
The economic changes seem more akin to WWII when there was rationing and production shifted to war efforts. Now we are shifting efforts to healthcare, and the logistics of maintaining basic consumer goods to the populace.
Both in WWII and today we want the ability to spin things back up once (fingers crossed) the virus abates without having made the situation worse by displacing or further indebting huge amounts of people.
When surveys show somewhere between 70-80% of Americans live paycheck to paycheck the potential consequences of the economy grinding to a halt would be devastating.
Talk of $1,000 payments to people help move the Overton Window, but don't solve the problem.