Heather Boushey: The Economist as Anesthetist: Putting the Economy Under and Bringing the Economy Back Up https://twitter.com/HBoushey/status/1242570985297117184: 'In response to the #coronavirus crisis, the nationwide economic shutdown has put the economy “on ice” so that it can be ramped back up after the health crisis is addressed. Concerns about falling into a deep and protracted #coronavirus recession are exacerbated by historically high economic inequality, which makes the United States particularly vulnerable to economic shocks. Policymakers should keep income flowing by helping small businesses pay their bills, ensuring any corporate assistance helps workers, boosting unemployment insurance, and providing #paidleave. The U.S. is one of only three industrialized countries that does not ensure every worker has access to paid time off when they are sick. We also need additional fiscal stimulus to ensure a recession does not turn into a full-scale economic depression. That means direct payments to families and more support for SNAP, Medicaid, and the Children’s Health Insurance Program. We need to remember that the economy isn’t something that happens to us—it’s the direct result of choices that policymakers make. The only entity with the power to mobilize resources and not further exacerbate rising inequality at such a large scale is the government...
#noted #2020-03-27
