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The coronavirus is going to teach — or, to be more precise, reteach — some hard economic lessons. One of them is probably going to be the need for policymakers to focus on money a bit less and real resources a bit more. It's called coming back down to earth. Hopefully, without crashing. But when you have been flying up in the clouds for so long..… In purely practical and material terms, all of these problems are entirely solvable. The problem is the abstraction of money: For the people who wield and deploy financial capital, it is not profitable to solve these problems.... The Week Can coronavirus bring economics back down to reality? Jeff Spross
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The coronavirus is going to teach — or, to be more precise, reteach — some hard economic lessons. One of them is probably going to be the need for policymakers to focus on money a bit less and real resources a bit more. It's called coming back down to earth. Hopefully, without crashing. But when you have been flying up in the clouds for so long..… In purely practical and material terms, all of these problems are entirely solvable. The problem is the abstraction of money: For the people who wield and deploy financial capital, it is not profitable to solve these problems.... The Week Can coronavirus bring economics back down to reality? Jeff Spross
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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The coronavirus is going to teach — or, to be more precise, reteach — some hard economic lessons. One of them is probably going to be the need for policymakers to focus on money a bit less and real resources a bit more.
It's called coming back down to earth. Hopefully, without crashing. But when you have been flying up in the clouds for so long..…
In purely practical and material terms, all of these problems are entirely solvable. The problem is the abstraction of money: For the people who wield and deploy financial capital, it is not profitable to solve these problems....
The Week
Can coronavirus bring economics back down to reality?
Jeff Spross