wish there was a way to see financial damage the way you can see maps of forest fires or bomb damage from wars... covid is such a physically bloodless catastrophe it's really hard to see the extreme invisible damage
Just generally how things fit into the world-machine and the societal value of saving them. Like on a walk recently we saw a closed indie cafe. Wife was upset, I was like “meh, Starbucks will survive and if this dies, not a big deal.” How to make such discussions more rigorous?
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A few econ things to mind: (1) Stiglitz in "Creating a Learning Society" talks about how most firms aren't on the production possibility frontier - ie most firms aren't close to best practices, the corollary that innovation can't save us if people don't adopt it.
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(2) Some PE/activist investment book I read talked about the studies show that the companies recessions kill aren't that different than ones that survive, meaning we should actually try to save more firms and the "tough love" approach is harmful to the economy.
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