Economist Podcasts Fiscal firepower: governments’ covid-19 aid
Mar 25, 2020
Duncan Weldon, The Economist's Britain economics correspondent, and Ted Plafker, the China correspondent, share fascinating insights on government responses to the pandemic. They discuss the U.S.'s historic $2 trillion relief package and the challenges of equitable aid distribution. Plafker highlights how China managed its agricultural sector during lockdowns, ensuring food security during crucial planting seasons. Additionally, they touch on the precarious lives of crocodile hunters in the Congo, revealing the risks and rewards of this dangerous profession during economic turmoil.
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Conflicting Policy Goals
- Governments are shutting down economies to contain the virus's spread.
- This creates conflicting goals between public health and economic stability.
Government Support for Businesses
- Governments aim to support businesses and keep people employed during shutdowns.
- They provide loans and direct cash to businesses, with varying approaches.
Wage Support Schemes
- Consider government-backed wage payments to retain employees during economic hardship.
- This helps both businesses and households by ensuring continued income.