March 16, 2020
The Pandemic Will Cause A Global Depression – We Need Demand Side Measures To Counter It
Last week’s post on Boeing ended with this line:
The pandemic, and the global depression it will cause, now make it certain that Boeing will have to ask for a gigantic government bailout or go into bankruptcy.
With most flights grounded due to the pandemic Boeing is now thinking about cutting its production and laying off workers.
In the quoted sentence I used the words „the global depression it will cause“ with care. I do indeed believe that a sustained, long-term downturn in economic activity in many countries will be one of the results of this pandemic. (…)