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Coronavirus should be a real wake up call to many of the economic left. A few months of furlough schemes by the government and countries have taken a huge hit t
by collyw 6y ago
Coronavirus should be a real wake up call to many of the economic left. A few months of furlough schemes by the government and countries have taken a huge hit to their economies. I have no idea what percentage of people got furloughed, but its clear to see not everyone got furloughed, it was for a few months at most and its going to cost a hell of a lot.
- ddek 6y agoThe obvious justification is that increased government spending is balanced by increased tax revenues, which hasn’t happened in this situation because no one is able to work or spend. I don’t see how the cost of furlough is an argument against higher spending. No one thought it would be anything other than mad spending with little immediate gratification. The payoff comes from, well, not plunging masses into poverty for not foreseeing the greatest economic disruption since 1939.