After the Coronavirus, how poor will we all be?

• 

It has always been our aim at LSS to bring up things which intelligent people might like to discuss.

So today, we present the work of Adam Tooze from the Guardian. It’s not that we revere every word Adam says. But sometimes someone like him puts the crucial questions so succinctly that we cannot ignore them. So read on, but before you do, look for the answers to these questions

1 There will be enormous debts remaining from this crisis. What will that mean for spending on defence, pensions and education, to name but a few?

2 Is there a moral obligation to repay debt? If so, how quickly? Do some moralists have other agendas?

3 Is the budget of a nation like that of a household?

4 What happens to GDP growth in nations that spend all their time paying back debt?

5 How can central banks play a role?

https://www.theguardian.com/commentisfree/2020/apr/27/economy-recover-coronavirus-debt-austerity

#debt #austerity #adamtooze #keynes