Early in the crisis, most people anticipated a quick V-shaped recovery, on the assumption that the economy merely needed a short timeout. The post-coronavirus economic recovery must be led by the US | Mohamed El-Erian Read moreThe current economic outlook can be viewed on two levels. At the same time, microeconomics tells us that the virus acts like a tax on activities involving close human contact. Because Covid-19 looks likely to remain with us for the long term, we have time to ensure that our spending reflects our priorities. • Joseph E Stiglitz is a Nobel laureate in economics, university professor at Columbia University and chief economist at the Roosevelt Institute.

Source: The Guardian July 02, 2020 09:00 UTC