WWII was the last time that Western societies were mobilised for an all-consuming conflict that demanded years of sacrifice and service from every citizen and every family. Such watershed moments are sometimes neglected in economics.
* * *
Economics – and economists – were everywhere in WWII. Economic considerations motivated the war. The war was managed with the help of economics. Economic factors powerfully influenced its outcome. There were profound and persistent economic consequences.
Quite a lot has been going on:
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Perspectives - In many ways, stockmarkets have been extraordinary in 2020 | Finance and economics
WHEN A BEAR growls, it is natural to be frightened. Ditto in finance, where bear markets can mean rapid losses of wealth. The coronavirus pandemic led to the fastest equity bear market in history: the S&P 500 index, America's main benchmark, took just 16 days in February to fall by 20%, the standard definition.
One reason for this mismatch between the markets and the economy is that official attitudes to financial downturns have changed a lot since Andrew Mellon, America's treasury secretary under President Herbert Hoover, argued after the crash of 1929 that downturns would "purge the rottenness out of the system". Now central banks and governments respond vigorously to economic and financial trouble, and taxpayers may bear more of the burden of the crisis than investors.
Danny McCoy: Covid-19 crisis a threat to both health and economics
Grafton Street: modifications of social restrictions most look beyond health statistics to explicit economic criteria. Photograph: Dara Mac Dónaill
The Covid-19 global pandemic continues to progress with substantial tolls for both morbidity and mortality but with continuing uncertainties for populations and businesses.
The uncertainties play out in many dimensions, not least on how to reopen our society and economies in a safe manner to avoid future restrictions. The Government's response to phased reopening rightly continues to place a high emphasis on the public health dimension of the virus. It now acknowledges that the compression of the health system and economy will have consequence for other health outcomes, too, which are as yet undermined but certain to be there.
Other things to check out:
Paul Constant: Trump's economic policy failed us amid the pandemic - Business Insider
Mnuchin was reiterating President Donald Trump's line on the economy — the idea that when social distancing ends, the economy will miraculously renew itself to pre-virus levels. "We're going to rebuild" the economy, Trump promised reporters last week, "and we're going to rebuild it better, and it's going to go faster than people think."
But the longer this crisis goes on, the less likely a V- or U-shaped recovery becomes. Even in states like Georgia and Florida that are moving too quickly toward reopening, the consumer demand that drives the economy is likely to be suppressed by both massive unemployment numbers and a widespread unwillingness to gather with large groups of people for months to come.
'Science, economics' to determine possible modification of COVID-19 lockdown – Roque
Coronavirus Guide: Symptoms, Testing, Treatment, and Economics | WIRED
[The 2019 coronavirus]( https://www.wired.com/story/what-is-a-coronavirus/ is one of hundreds we know of, and one of seven known to infect humans. These viruses affect the lungs and also cause fever and sometimes gastrointestinal problems. The WHO declared the coronavirus situation a global emergency in January and a pandemic in mid-March.
Coronavirus can last for up to two or three days on some surfaces , so it's important to regularly clean and disinfect your home and belongings , especially things you're touching all the time like doorknobs, remote controls, and counters. You'll want soap or disinfectant , but if you can't find any in stores you can also make your own sanitizer .
Hong Kong records its worst-ever economic downturn | News | Al Jazeera
Hong Kong's economy recorded in the first quarter its deepest annual contraction since at least 1974, as the coronavirus pandemic dealt a heavy blow to business activity, already in decline following months of anti-government protest last year.
The economy contracted 8.9 percent on an annual basis, compared with a revised 3 percent in the fourth quarter of 2019. That was the steepest contraction for a single quarter since records began in 1974, the government said.
Happening on Twitter
Spain. The collapse of GDP (-5.2 %) is consistent with a 33-35% drop in activity in ONLY two weeks, according to B… https://t.co/cKVApxZ7he dlacalle_IA (from London, UK) Thu Apr 30 08:34:21 +0000 2020
The coronavirus pandemic will cause the global economy to shrink 4% in 2020, according to a Bloomberg Economics est… https://t.co/TMGHd4FPhR markets (from New York) Mon Apr 27 16:30:14 +0000 2020
Australia still vulnerable to second wave of coronavirus infections as younger people who have no symptoms unwitti… https://t.co/C0e87OAiP7 aus_business (from Australia) Sat Apr 25 23:55:11 +0000 2020
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