COVID has spawned an era of furious policy experimentation by national and local governments. From lockdowns to public-private partnerships in global health, from modern monetary theory to unprecedented income support and dual-edged technological innovations, economic scholars will be analyzing the resulting data for generations. We cannot possibly foresee all the implications of these concentrated actions over the last 18 months. We cannot predict the political and economic fallout, or know how geopolitics will bend to our new reality. However, we can expect the impact will be persistent, certainly outlasting the current uptick in inflation. Half a century from now, we could still be in the midst of changes created by this pandemic.
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