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The Human-Capital Costs of the Crisis
US President Donald Trump tells us that once COVID-19 is contained and it is safe to go back to work, the economy will be “great again.” Is he right? There is at least one reason to think he is. After all, unlike a hurricane or earthquake, the pandemic has caused no damage to the physical capital stock. It follows, Trump and his advisers argue, that we can pick up where we left off. The economy took a time-out, but now output will rebound swiftly to pre-crisis levels and growth will proceed as before. We are even told that the economy will be stronger than ever. People who put off buying a car because it was ... (full story)
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- Apr 11, 2020 2:08am Apr 11, 2020 2:08am
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The elites think we are stupid. They are in the main quite correct.
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Warning: A Dangerous Subversive: 1% of comments CoCed
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