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Growth evangelists are right when they state that severe lockdowns produce a parallel human misery of unemployment, looming bankruptcies, and extreme financial anguish. Yet, opening the economy too...
“Save the economy or save lives” is a false choice.
A group of economists published a paper on the 1918 flu outbreak. Their findings revealed:
Asking millions of able-bodied workers to stop working creates a crisis of unemployment.
During this time, the U.S. is expanding unemployment benefits and are also delaying tax filing. I...
Many small-and-medium-sized companies face extinction during the pandemic shutdown. While their income is gone, they still owe wages and rent to landlords.
This could lead to cascading ...
A three-or four-month freeze is one thing, a full year of isolation and economic inactivity is disastrous.
Our lack of knowledge about the virus is our greatest weakness. More tests c...
SIMILAR ARTICLES & IDEAS:
Epidemics and other natural disasters tend to both illuminate and reinforce existing divisions.
History offers a precedent. Collective anger at low wages and poor working protections can produce lasting social change.
The pandemic may be bad for workers’ rights.
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The economy shut down almost overnight. But reopening it will not happen the same way. It may take months and possibly years to fully open, even under the most optimistic estimates.
The proposed three-phase plan will allow many businesses to open in the first phase.
Schools and daycare centers can open in the next phase. But that means millions of working parents could be asked to return to their jobs before they have someone to take care of their children.
In the early phases of reopening, businesses could be required to operate at a reduced capacity.
Offices might operate in rotating shifts, but other businesses could have a harder time. Restaurants may have tight profit margins even in better times. Operating at half capacity may mean working at a loss.
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