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The best situation all around here possibly is the concept of "Kurzarbeit", or short work system, that exists in Germany (Denmark also has a similar one, I beli
by technics256 7y ago
The best situation all around here possibly is the concept of "Kurzarbeit", or short work system, that exists in Germany (Denmark also has a similar one, I believe). It basically allows employers to reduce hours they pay workers, while the gov't helps cover the shortfall to the employee, up to some maximum amount.
This prevents companies from having to layoff people, and allows them to pickup the slack and rehire everyone again when things get better.
- texasbigdata 7y agoA similar concept is found in the CARE Act related to employers that reduce the hours or wages of employment.
- fock 7y agothis doesn't address that in this crisis at the end of all "we need money to pay the bills" problems, there are actual people getting the money on top of their existing pile. If we could identify these individuals, we could essentially just freeze everything in place (rents, industry bonds,...) and the fed only had to print money for the ag/energy/medical sector (and even there we could just use some of the individual savings to pay the bills...). Once it's over, noone will be bankrupt, the Gini coefficient will be lower and the recession will be small. Problem: some individuals will have lost a lot of power.