The US government should pull out all the stops in mitigating the economic fallout from COVID-19, not just by disbursing cash to all households, but also by implementing a federal job guarantee and many other long-overdue policies. After all, for a self-financing government, money is no object.
NEW YORK – The fallout from the coronavirus pandemic will be nothing like that of the 2008 financial crisis, nor will a V-shaped recovery be achieved through conventional stimulus – not even through truly massive conventional stimulus. We are at war with COVID-19, and in wartime, civilian production grinds to a halt and the only work that is needed is for the war effort itself.
NEW YORK – The fallout from the coronavirus pandemic will be nothing like that of the 2008 financial crisis, nor will a V-shaped recovery be achieved through conventional stimulus – not even through truly massive conventional stimulus. We are at war with COVID-19, and in wartime, civilian production grinds to a halt and the only work that is needed is for the war effort itself.