The new Covid variant named Omicron sent a stampede on Wall Street serving as an early warning of the dangers faced by a modern global economy designed as a world wide web quite vulnerable to exotic viruses. Plainly the Biden administration may face the same sort of challenges to keep the economy open intelligently that the Trump administration faced and failed.
Establishments and bureaucrats are loathe to change unless they see a potential profit in it. Bureaucrats and government administrators are perhaps the least likely people to invent a way society can profit from adapting emergency response measures. Instead of making a profit government spends like drunken sailors on a failing slope in something of a supply-side paradigm believing in error that future economic growth after the end of the short or intermediate term pandemic will compensate for the avalanche of new public debt.
The U.S. government needs to find intelligent redesigns to keep the economy open even during a pandemic with more serious viruses like ebola adapted to become an airborne pathogen; it needs to find a way to generate skeleton crew personnel within the private sector able to keep businesses functioning regardless of the severity of the pathogen. I am sure the government of the United States is doing such a thing nor is capable of doing so since creativity is required. I wish them luck tough and hope they can find the capacity to try.
No comments:
Post a Comment