Why Combatting Covid-19 Helps the Economy
As James Surowiecki reports for Marker, gyms, restaurants, and movie theaters are all reeling because “demand shock” is killing the economy. He writes:
Consumer anxiety over the continued spread of the pandemic is holding back the recovery by making it impossible to get back to business as usual. In the spring, the economy was crushed in large part by the lockdowns and restrictions imposed by states, which created what economists call a supply shock: businesses literally could not supply goods and services, because they were shut down.