The Great Pause Was an Economic Revolution
foreignpolicy.com
The Great Pause Was an Economic Revolution
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Re: The Great Pause Was an Economic Revolution
#2Exactly correct. I would go a bit further even though: not only is it possible to deliberately engineer the way the economy functions to achieve specific goals, but this has already been done and the supposedly naturally self designed, self regulated free market economy is anything but. Rather it has been engineered to benefit someone, it’s just not you and me but a small percentage of excessively rich people.
Re: The Great Pause Was an Economic Revolution
#3It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come.
If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't see many small businesses surviving on a fraction of the income, especially when their margins are razor thin already.
Re: The Great Pause Was an Economic Revolution
#4The "Economic Revolution" of the title is fascinating and exciting:
> About 35 percent of food expenditures—more than $2.5 trillion globally—is up for grabs as consumers shift to dining at home and experimenting with new buying channels.
This could be the end of cruel factory farms and the resurgence of smaller, healthier and more humane farming.
Check out "SPIN farming": it stands for "Small-Parcel INtensive", a kind of turn-key farming business that is meant for small (down to 1/4 acre) urban farms. Combine that with "Syntropic farming" and you've got the makings of a economic revolution.
(Normally I would supply links but I've only just recently learned about them so I don't have anything in particular to recommend.)
Re: The Great Pause Was an Economic Revolution
#5It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come. If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't se…
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Re: The Great Pause Was an Economic Revolution
#6It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come. If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't se…
No-one’s saying it worked, as such (what would this even mean?) But it arguably didn’t cause the sort of rapid chaos (breakdown of supply chains swiftly followed by social order) that conventional wisdom says this sort of thing should.
At least in places where COVID has been largely suppressed now, the second time round shouldn’t be as economically shocking as the first; there’ll be way more focus on the test-and-trace approach that we just weren’t set up for in February. I would be somewhat worried about places where it was never really suppressed when it spikes again, though.
Re: The Great Pause Was an Economic Revolution
#7It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come. If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't se…
Viruses tend to get less deadly over time. There are scientific reasons for this (ie the people most in danger die off earlier, or social adaptations favour spread by more benign strains over the killers). I expect the second wave to be more widespread but result in fewer deaths. The economic impact is more dependent on how we handle the crisis. If we handle it badly, ie how we are now, it will be worse than if we take the more mature approach.
Re: The Great Pause Was an Economic Revolution
#8It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come. If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't se…
Why would we (assuming you mean the US) have to pay for this with our taxes, who do we owe the money to? The US issues it’s own currency and we printed money to keep the economy afloat. We don’t owe that debt to anyone?
The only reason extra taxes would be needed is to curb inflation.
Re: The Great Pause Was an Economic Revolution
#9It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come. If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't se…
Viruses tend to get less deadly over time. There are scientific reasons for this (ie the people most in danger die off earlier, or social adaptations favour spread by more benign strains over the killers). I expect the second wave to be more widespread but result in fewer deaths. The economic impact is more dependent on how we handle the crisis. If we handle it badly, ie how we are now, it will be worse than if we ta…
Well... Both of those causes are bought with lives. So by reducing the number of cases and deaths, we may also have reduced the amount that the virus has attenuated.
Re: The Great Pause Was an Economic Revolution
#10It's hard to say that this Great Pause actually "worked", since the governments of the world had to dump trilions into stimulus to make businesses not simply die. We and our children and our childrens' children will be paying for this with our taxes for decades to come. If we have another Pause in the next few months, then it will be the body blow that completely cripples the economy, especially in the US. I can't se…
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