T. Norman Van Cott

Politicians and pundits have a blind spot when it comes to international economic transactions. They ignore a portion of trade! In particular, they ignore trade in claims on future income—that is, stocks and bonds.

When productions falls and people cease to work, an influx in new money does nothing to increase the standard of living. This was true during past pandemics, and it's true today.

Just because a worker has relatively low productivity is no reason to outlaw that person's job. But that is what minimum wage increases do.