The coronavirus crisis is exposing how the economy was not strong as it seemed
In the last month, the $21 trillion U.S. economy endured a remarkable and disorienting reversal, plunging from…
This WaPo essay details some weaknesses in the US economy.
“Owners and shareholders invest their money in a business to earn a return, so leaving excessive amounts of money idle is counterproductive. Businesses are supposed to put money to work.
Keeping too large of a “rainy day” fund also could have economy-wide implications. If every company maintained an enormous cash cushion, there would be less capital to fund new investments. All else being equal, less capital means higher interest rates, which could slow economic growth.”
The cheerleaders for the infinite growth curve model of success are in the way of our survival. Their obsession with and centering of
money and power
as the only reasons to do business
are in the way of the good life, as well as our survival.
What economic structure and policies are needed to sustainably support The People and The Land
over the long-haul of time?