Paul Krugman+ Your Authors @paulkrugman Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” "Arguing With Zombies," + more. Jul. 01, 2020 1 min read + Your Authors

The sum of all fears: the pandemic is exploding in the Sunbelt. Does anyone doubt that TX and FL are close behind? 1/

The 2nd wave — OK to say that — has already shot down the economic recovery 2/  https://www.nytimes.com/2020/07/01/business/economic-recovery-virus-surge.html?action=click&module=Well&pgtype=Homepage&section=Business 

Nobody could have predicted all of this. Oh, wait 3/  https://www.nytimes.com/2020/05/11/opinion/coronavirus-depression.html 

Key passage. I wasn't alone in seeing this scenario, by any means. For example, Simon Wren-Lewis was saying much the same thing  https://www.theguardian.com/commentisfree/2020/may/11/britain-economy-coronavirus-deaths  But the Trumpists, and, to be fair, a lot of business types didn't want to hear it 4/

I did one radio interview that went something like this:

Interviewer: How should we make the tradeoff between infections and economic growth?

Me: There is no tradeoff — you have to control the virus to have sustainable growth

Interviewer: So how would you make the tradeoff? 5/


You can follow @paulkrugman.



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