Sunday , October 24 2021
Home / Tag Archives: Coronavirus (2019-nCoV)

Tag Archives: Coronavirus (2019-nCoV)

Why More American Workers Are Quitting

All happy economies are alike; each unhappy economy is unhappy in its own way.In the aftermath of the 2008 financial crisis, the economy’s problems were all about inadequate demand. The housing boom had gone bust; consumers weren’t spending enough to fill the gap; the Obama stimulus, designed to boost demand, was too small and short-lived.In 2021, by contrast, many of our problems seem to be about inadequate supply. Goods can’t reach consumers because ports are clogged; a shortage of...

Read More »

What if Things Are About to Get Better?

That was the summer of our discontent. Early this year many of us were expecting to see dramatic improvements in the quality of our lives. Miraculous vaccines offered the hope of a quick end to the pandemic and a return to normal life. The return to normality would, we hoped, also set the stage for a rapid economic rebound. When President Biden predicted a “summer of joy,” that didn’t seem unreasonable.But it was not to be. The vaccination drive, after early successes, stalled in the face...

Read More »

Of Vaccine Mandates and Facing Reality

Three weeks ago President Biden announced plans to require Covid-19 vaccinations — or, in some cases, weekly testing as an alternative — for most U.S. workers. There were immediate predictions that the move would backfire, that it would only stiffen vaccine resistance. Indeed, some surveys suggested that as many as half of unvaccinated workers would quit their jobs rather than take their shots.But such threats are proving mostly empty. Many state and local governments and a significant...

Read More »

Once Covid Is Under Control, Inflation Will Fade From Memory

Consumer prices have risen 4.4 percent over the past six months; that’s an annualized inflation rate of almost 9 percent, which puts us almost back into 1970s territory. And there are plenty of people out there proclaiming the return of stagflation.But the people in a position to do something about it — above all, Jerome Powell, the chairman of the Federal Reserve — are fairly serene. They insist that we’re looking at only a transitory blip driven by the disruptions associated with...

Read More »

What Happens When the Covid Relief Ends?

In the heady days of spring, when the United States was vaccinating 3 million people a day, President Biden predicted a “summer of joy.” But then the vaccination campaign stalled, and the Delta variant fueled a new wave of infections, hospitalizations and deaths.This didn’t have to happen. True, Delta’s contagiousness has led to rising caseloads almost everywhere. But America has pulled away from other advanced countries in hospitalizations and deaths:ImageAmerican...

Read More »

Did Friedrich Hayek Get the Economics of the Covid Crisis Right?

Remember Austrian economics? In the aftermath of the 2008 financial crisis, a number of conservatives rejected Keynesian economic prescriptions and claimed instead to be devotees of the Austrian School, especially Friedrich Hayek.It’s questionable how many of these self-proclaimed “Austrians” actually knew what they were endorsing. In general, when right-wingers talk about intellectual history, you want to fire up your fact-checking. For example, Mark Levin of Fox News has a best-selling book...

Read More »

The Snake Oil Theory of the Modern Right

You don’t hear much these days about “economic anxiety.” Most observers acknowledge that the rise of the Trumpist right was driven by racial and social antagonism, not economic populism.Yet there is an economic element to political extremism, just not what you’d think. Right-wing extremists, and to some extent even more mainstream conservative media, rely on financial support from companies selling nutritional supplements and miracle cures — and that financial support is arguably a...

Read More »

¿Ustedes qué opinan de quienes se oponen a las vacunas y los cubrebocas?

Hablemos un momento del Lollapalooza. Después de cancelar los eventos presenciales el año pasado, hace unas semanas Chicago volvió a ser la sede del longevo festival de música que convocó a más de 385.000 personas. Muchos temían que las enormes y estridentes multitudes pudieran producir un evento de superpropagación del coronavirus.Pero el festival exigía una prueba de vacunación o una prueba de covid negativa para asistir, y cuando ya había comenzado, implementó el requisito de usar...

Read More »

How Not to Create Jobs

Last Friday, as the clock ticked toward 10 a.m., many labor economists were poised at their keyboards like runners about to do a 100-yard sprint. You see, the Bureau of Labor Statistics was scheduled to release its latest monthly report on state employment and unemployment, and everyone wanted to crunch the numbers and learn what they showed.Why was this report different from any other report? In June, roughly half the states did something remarkable: They cut off enhanced unemployment...

Read More »

Workers Don’t Want Their Old Jobs on the Old Terms

The pandemic disrupted many Americans’ work lives. Some of us — generally highly educated white-collar workers with relatively well-paying jobs — were able to shift to remote work. Millions of other workers, especially many poorly paid service workers, simply saw their jobs disappear when consumers stopped eating out and traveling.Now the economy is recovering — a recovery that will probably continue despite the spread of the Delta variant of the coronavirus. But many Americans don’t want to...

Read More »