Mehrling Writes on Money and Pandemics
Perry Mehrling, Professor of International Political Economy at the Frederick S. Pardee School of Global Studies at Boston University, published a blog on the Money View (March 26, 2020) on “A Money View of the Pandemic.”
Mehrling argues that in these times of COVID-19, “the underlying challenge is that the future toward which we were building before the coronavirus is not the future toward which we will be building after the coronavirus (BC and AC respectively).” He explains:
Businesses and business models that were great BC may not be so great AC, and businesses and business models that did not even exist BC may be great AC. Same goes for jobs. We’ve turned off the economy temporarily, in order to fight the public health fight, but turning the economy back on will not be so simple because it will not be simply a return to status quo ante, but rather a process of reconstruction analogous to the aftermath of war.
Read full piece here.
Perry Mehrling is a Professor of International Political Economy at the Pardee School and teaches courses on the economics of money and banking, the history of money and finance, and international money. He is the author of The New Lombard Street: How the Fed became the dealer of last resort (Princeton 2011), Fischer Black and the Revolutionary Idea of Finance (Wiley 2005), and The Money Interest and the Public Interest (Harvard 1997). Recent papers and video are available on his website, ‘one stop shopping for all things ‘money view’.