When you hear a cop has been fired from his job for some heinous act, be sure to check back a few months later. He may have been rehired thanks to the fact that it's very easy for cops to appeal termination and win.
Paul Krugman is now claiming that reopening the economy and allowing people to go to work almost surely will cause a depression.
Paul Krugman is now claiming that reopening the economy and allowing people to go to work almost surely will cause a depression.
Landlords invest their stored labor—savings—at a risk and with the knowledge that they won't recoup it for some time. In creating or renovating rental properties, they aid those who can't store their labor yet—tenants and laborers.
Government restrictions on production are driving prices up as unemployment drives them down. It's impossible to say now whether price inflation or price deflation will be the predominant factor in the crisis's next phase.
The COVID-19 panic may have sped up the beginning of this economic crisis, but the virus wasn’t the cause. The real cause of the crisis was the boom that came before it.
Even though the official unemployment rate is probably not quite as high as it was in 1933, there are reasons to believe that our labor market is currently in even worse shape economically than it was at the lowest depths of the Great Depression.
The key to recovering jobs quickly and efficiently is the combination of a flexible labor market, an attractive investment framework, and solid policies to preserve the business fabric of the country.
