Saturday, April 18, 2020

Human Capital Takes Center Stage Amidst The Pandemic

If the people can not go to work because the virus is out and about, no amount of stimulus money and bailout money will jumpstart the economy. It is like the entire world has gone on strike. And in so doing human beings have proven how indispensable and fundamental they are to every national economy, to the global economy. Every ambitious program ever proposed in every country that has had to with education and health and food security and basic financial security (think UBI) have been less expensive than the stimulus money and bailout money now being implemented with little to no debate. Goblets of money are being splurged at the speed of knee-jerk reaction. Obviously, you have had the money.

For the longest time the running dogma has been that oil might destroy the planet, but it is too important for the global economy. Where is your oil now?

The lesson is, so now start with human capital. Start with the climate, not with oil.

To a country like India feeding people has always been more important than building roads, for example. Now they are doing it.

The Green New Deal now looks cheap.



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