The Coronavirus and the End of Economics
Mainstream economics fails when confronted with the covid-19-pandemic. Mainstream economics has propagated the dismantling of the state and the globalization of production - both of which make the crisis now so devastating. More fundamentally, it deals with market systems, when what is needed to limit the virus’s spread is a command system.
Origins & Emergence of the 2020 Great Recession in the US Economy
Dr. Jack Rasmus
The Great Recession 2.0 is unfolding before our very eyes. It is still in its early phase. But dynamics have been set in motion that are not easily stopped, or even slowed. If the virus effect were resolved by early summer—as some politicians wishfully believe—the economic dynamics set in motion would still continue.
Radical (and less radical) economic policy proposals to combat the economic consequences of the corona crisis globally
Hannes Böhm and Netzwerk Plurale Ökonomik
We collect currently discussed policy proposals and provide you with links to understand & learn about these proposals. We start with general ideas, procced with ideas for countries of the Global South and end with proposals that have been made for the European economy but could also inspire other countries.
Economic crisis only because of the Corona pandemic?
With the onset of an economic crisis that has been universally acknowledged since the end of March, two main questions arise: To what extent is the corona pandemic the starting point (or even the cause) of this crisis? And secondly: can the aid programmes that have been adopted prevent a deep and prolonged recession?
The Unexpected Reckoning: Coronavirus and Capitalism
It is perhaps fitting that the seriousness of the coronavirus threat hit most of the Western world around the Ides of March, the traditional day of reckoning of outstanding debts in Ancient Rome. After all, problems and imbalances have accumulated in the Western capitalist system over four decades, ostensibly since it took the neoliberal road out of the 1970s crisis and kept going along it, heedless of the crises and problems it led to.
The COVID-19 Debt Deluge
How long the COVID-19 crisis will last, and what its immediate economic costs will be, is anyone's guess. But even if the pandemic's economic impact is contained, it may have already set the stage for a debt meltdown long in the making, starting in many of the Asian emerging and developing economies on the front lines of the outbreak.
Triggering a Global Financial Crisis - Covid-19 as the Last Straw
T Sabri Öncu
Whether a black swan or a scapegoat, Covid-19 is an extraordinary event. Declared by the WHO as a pandemic, Covid-19 has given birth to the concept of the economic “sudden stop.” We need extraordinary measures to contain it.
How to Manage the Economic Fallout of the Coronavirus
The novel coronavirus (Covid-19) is rapidly spreading around the world. The real economy is simultaneously hit by a supply shock and a demand shock by the spread of coronavirus. Such a twin shock is a rare phenomenon in recent economic history.