Illustration: Craig Stephens Illustration: Craig Stephens
Illustration: Craig Stephens
James K. Galbraith
Opinion

Opinion

James K. Galbraith

Why US hopes for a quick economic recovery from the coronavirus are pure fantasy

  • Structural changes to the US economy over the past 50 years mean Covid-19 is no short-term shock to be easily dismissed
  • US prosperity is built on debt, and heavily reliant on global demand for advanced goods and consumer demand for frills, none of which is likely to bounce back as quickly as many wish

Illustration: Craig Stephens Illustration: Craig Stephens
Illustration: Craig Stephens
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