Season 1 · Episode 191
We need to prepare the economy for a lock down
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
March 3, 202037m 27s
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Show Notes
The manufacturing numbers from China at the weekend showed how hard the sector was hit by the lockdown in Wuhan and neighbouring districts. In today’s Debunking Economics podcast Prof Steve Keen says the rest of the world needs to prepare for a similar strategy, that will see production dive as workers don’t show up and consumers don’t go shopping. It seems likely that central banks will cut interest rates, but that won’t stop businesses going bankrupt. So what is the correct policy response?
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