You can’t turn the economy back on like a light switch

Magical thinking on the economy won’t make things the way they were before.

It would be nice to think that everything will be back to normal by June. It may also be close to delusional.

As states around the country begin to reopen their economies with the coronavirus crisis still far from under control, we’re about to undertake a very big experiment about whether you can turn the economy on and off, basically, like a light switch. That getting back to business will be easy is a risky bet to make, and so far, signs point to it being pretty unlikely. […]

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