Goolsbee: 'Rona Cases, Not Lockdowns, Depress the Economy—Noted
Campbell: Relative Prices and Hysteresis: Evidence from US Manufacturing—Noted

Paulus: COVID Was Never “Under Control”—Noted

A conceit of my in-draft economic history of the long twentieth century is that it was the American century, and that it came to an end, finally and ultimately, on November 8, 2016—when the second minority government led by somebody really not up to the job of president in anyone’s estimation took control. But I confess I did not think that even Donald Trump and his enablers could do so much damage. And I confess that I did not think that the most competent rank of Trump enablers would be as… simply stupid… as Treasury Secretary Steve Mnuchin really does seem to be:

Shannon Paulus: COVID Was Never “Under Control” in America ‘We need to remember this as we proceed with reopening: If we’ve learned anything in the past several months, it probably ought to be that the coronavirus is hard to contain.... Or at least, some of us have learned that. On Wednesday, in making a case for restaurants opening up indoor seating, Secretary of the Treasury Steven Mnuchin suggested otherwise: “I don’t see why on an indoor basis, socially distanced, that restaurants can’t be serving indoors,” he said. “Particularly in parts of the country where COVID is under control.” He also seemed to not understand why indoor dining is a particular point of focus: "This distinction between indoor & outdoor seems a bit random, and I don’t know what people would do when it rains..." Let’s set aside Vox journalist Aaron Rupar’s correct point that people dining indoors is scientifically more dangerous for COVID spread than people dining outside. Mnuchin’s other suggestion is that the virus isn’t really an issue in some places of the country. He thinks that there are some places where case counts are low (this is objectively true) and that in these places we can begin loosening restrictions on activities not slowly and thoughtfully, but significantly... #coronavirus #depression #macro #noted #publichealth #2020-06-24