Economics

The last thing this polarized Republic needs is, well, more polarization, but that is what we are contracting from the pandemic. Americans, irrespective of region, broadly want the same things, such as safety, a return to normalcy, and an end to dependence on China for medical supplies, but they differ in the depth of their experiences with the pandemic.  read more »

As we wrote in Steeltown USA: Work and Memory in Youngstown, Youngstown’s story is America’s story, and that city offers a useful case study for anyone trying to imagine American life after the pandemic. No doubt, coronavirus is a natural disaster that is more contagious, widespread, and deadly than the economic disaster of deindustrialization.  read more »

The COVID-19 epidemic wreaked havoc on the majority of American households. The USC Dornsife poll reported on April 17th that 15% of previously employed people in the country have lost their jobs because of the virus. That translates into close to 26 million newly unemployed. While many of those jobs will come back once we get through this, I do not think all of them will. Future social distancing rules will, for instance, limit the number of patrons a restaurant or a bar can serve. Fewer customers means fewer employees to serve them.  read more »

Even before the outbreak of the Covid-19 pandemic, America, like most higher-income countries, was already heading toward a neo-feudal future: massive inequality, ever-greater concentrations of power, and increasingly widespread embrace of a uniform (albeit secular) religion. The pandemic, all too reminiscent of the great plagues of the Middle Ages, seems destined to accelerate this process.  read more »

“Small-scale commercial production is, every moment of every day, giving birth spontaneously to capitalism and the bourgeoisie…wherever there is small business and freedom of trade, capitalism appears.”— V.I. Lenin  read more »

Like the rest of the country, although far less than New York, California is suffering through the Covid-19 crisis. But in California, the pandemic seems likely to give the state’s political and corporate elites a new license to increase their dominion while continuing to keep the middle and working classes down.  read more »

California has, at least to date, escaped the worst effects of Covid-19.  read more »

The long-term effects of the coronavirus outbreak on our society and business landscape are yet to be determined. But one thing we know is that a big swath of American businesses is conducting a large-scale experiment with remote work (aka work from home). Many of them have also made large investments in infrastructure to support it; one company bought 20,000 laptops for their employees, for example. The coronavirus shutdown will create new capabilities for remote work within firms large and small, and produce a treasure trove of findings about what works well and what doesn’t.  read more »

Long after the pandemic has receded, its long-term impact on our society and political life will continue. Just as plagues past have reshaped the trajectory of cities and civilizations, sometimes with fearsome morbidity, COVID-19 is already having a profoundly disruptive impact on our political future.  read more »

The COVID-19 pandemic is likely to widen even further the growing class divides now found in virtually every major country. By disrupting smaller grassroots businesses while expanding the power of technologies used in the enforcement of government edicts, the virus could further empower both the tech oligarchs and the “expert” class leading the national response to the crisis.  read more »