There is little doubt that the world is headed towards a corona-induced depression. We are rich because we live interdependent lives, specialising in the things we do best and trading away our surpluses. When that trade is prohibited – when we cannot buy the things we do not produce ourselves – we return to the independent but impoverished worlds our ancestors inhabited.
Economics in the time of corona
Economics in the time of corona
Economics in the time of corona
There is little doubt that the world is headed towards a corona-induced depression. We are rich because we live interdependent lives, specialising in the things we do best and trading away our surpluses. When that trade is prohibited – when we cannot buy the things we do not produce ourselves – we return to the independent but impoverished worlds our ancestors inhabited.