Note that views expressed in this opinion article are the writer’s personal views and not necessarily those of TrialSite.
Paul Elias Alexander, PhD, Howard Tenenbaum, DDS, PhD, Parvez Dara, MD, MBA
How did we get here? The economic and health fallouts of the lockdowns have been staggering and will take 100 years to remediate by some estimates. The American Institute of Economic Research (AIER) recently published a seminal piece on the COVID recession by Mulligan that paints a harrowing picture: “the current recession briefly caused a 10% loss of real GDP, with unemployment rising as high as 15%”. Mulligan argues that “the Covid-19 recession was not triggered so much by unsustainable overexpansion as by profound restrictions motivated by public health considerations, and since this current recession did not come from any primarily monetary or public policy cause, we cannot look to economic policy alone to bring it to an end. An especially sharp decline in real GDP output occurred at the outset, but this was over by the second quarter of 2020…we have yet to fully recover in terms of output…there is every reason to anticipate that many of the economic responses will further ret...
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