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I keep thinking about tweeting about macroeconomics, which is a bad idea because there are a lot of smart people who know about macroeconomics and I am not one of them.
But I haven't seen many big-picture articles on the economic effect of the pandemic.
But I haven't seen many big-picture articles on the economic effect of the pandemic.
Like, we can talk about who's being hit hardest, we can talk about government policy and interest rates.
But at some point, someone smart should write about the fundamental issue: We shut parts of the economy off so we just have less money than we expected now.
But at some point, someone smart should write about the fundamental issue: We shut parts of the economy off so we just have less money than we expected now.
Some way, somehow, we're going to feel the effects of having less money than we expected. The specifics of who bears the burden, and how policy smooths out the bumps matters a lot.
But the basic issue — we shut off or slowed down a lot of the economy — matters a lot too.
But the basic issue — we shut off or slowed down a lot of the economy — matters a lot too.
Hm. I seem to be tweeting about macroeconomics now in spite of what I said in the original tweet in this thread.
I'll stop here before I embarrass myself any further.
I'll stop here before I embarrass myself any further.
