We are facing an unprecedented economic crisis, and the government must take on a larger role in our economy. In response to the coronavirus, the unthinkable is quickly becoming thinkable. As of March 24, 2020, Congress is considering a $2 trillion stimulus; a $1,200 grant to all Americans; bailouts of firms facing bankruptcy; suspension of
The current economic crisis is fast-moving, and many of the challenges we are facing—and anticipating—are unprecedented. Though the immediate effects of the coronavirus may spark a potential recession, our economy’s underlying structural problems mean that the fallout will likely be much worse and last longer for millions of people unless we act quickly and aggressively.
The recent bill introduced by Senate Majority Leader Mitch McConnell tries to stem the current economic crisis. In a previous document, “A Forward-Thinking Response to the Coronavirus Recession,” we outlined five elements that any response needs to include: (1) Help people directly by providing cash, (2) support workers, (3) help states and municipalities, (4) prevent
As millions face unemployment and dire financial prospects amid the coronavirus pandemic, hotels, airlines, and other large corporations are repeating the script of 2008: asking for massive public bailouts after years of extractive shareholder payments. Before the government buoys these companies with the public’s money, we must ensure that they are resilient in the future
COVID-19 represents both a public health emergency and an economic crisis. While federal, state, and local governments must take strong steps to stem the spread of the virus — from continuing to close schools, restaurants, and workplaces and limit the size of gatherings, to ensuring that everyone has access to health care and can be
If the experience of the last recession is a guide, avoiding a severe downturn will take far more stimulus spending than is currently being discussed—as much as $3 trillion. The coronavirus is, first and foremost, a public health crisis. The most immediate questions it poses are how to keep it from spreading, and how to
The coronavirus outbreak has led to a collapsing economy. The economic situation is deteriorating so fast that people are struggling in real time to understand fundamental questions and policy objectives. “A Forward-Thinking Policy Response to the Coronavirus Recession” is an overview of where things stand. We focus on the nature of the economic crisis, and
In the final weeks and days of 2019, significant changes via legislative ratifications to the North American investment treaty template were made, most notably with approvals of the US-Mexico-Canada Agreement (USMCA) that will replace the 1993 North American Free Trade Agreement (NAFTA). On December 10, the three governments signed the final version of the pact.
True Reparations Are a National Debt: Localities and Individuals Should Not Foot the Bill and Cannot Build Systemic Remedies Alone
The reparations debate is longstanding and deep-rooted. In our forthcoming book, From Here to Equality: Reparations for Black Americans in the 21st Century (University of North Carolina Press, April 2020), we advance the following general definition of reparations: “a program of acknowledgement, redress, and closure for a grievous injustice.” Acknowledgement is the admission of wrong
The idea of “free college” has assumed an important place in the world of big and bold new policy ideas. However, it’s become an umbrella phrase for a variety of different policy proposals with very different terms and conditions. A free college plan can reinforce progressive values—reducing racial disparities, supporting democracy, and building a more