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Podcast: Debunking Economics - the podcast
Episode: We fought the pandemic and the war won
Description: The pandemic was the biggest economic disturbance since the second world war. In both cases supply chains were severely disrupted, either by German U-boats or, more recently, factories and borders closed to stop the spread of disease. On the face of it, though, we have got off relatively Scot-free. We haven’t seen the massive fall in GDP experienced after the war. In fact we saw a sharper fall in GDP in the 2008 financial crisis.What is different is how we have handled the readjustment. After the war the focus was on growth, with very low inte...