Paul Krugman

@paulkrugman ↗

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Last Checked April 16, 2021

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Tue Mar 31 12:22:42 +0000 2020

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Paul Krugman @paulkrugman

This isn't a conventional recession; it's more like a medically induced coma, where you temporarily shut down much of the brain's activity to give it a chance to heal. But doing this requires that we provide life support 3/ — PolitiTweet.org

Posted March 31, 2020 Hibernated

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Paul Krugman @paulkrugman

My stylized model of the economy right now looks like this: there are two sectors, essential (E) and nonessential (N). What's mainly happening is that we are — rightly — shutting down N to limit social interaction and flatten the curve. 2/ — PolitiTweet.org

Posted March 31, 2020 Hibernated

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Paul Krugman @paulkrugman

In particular, how are laid-off workers in the N sector supposed to keep buying essentials? They need aid — and when you consider how much of the economy is being shut down that aid has to be on a massive scale. $2 trillion isn't nearly enough 4/ — PolitiTweet.org

Posted March 31, 2020 Hibernated