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Alan Reynolds

CARES Act Stimulus Did Not “Replace Lost Wages”

January 17, 2021 by Counter Markets

By Alan Reynolds To explain why the economy collapsed in March and April before recovering vigorously, demand-side economic theorists emphasize excess savings as the cause of the downturn with federal stimulus spending as the driving engine of the subsequent recovery. An alternative supply-side explanation instead emphasizes the contractionary impact of state lockdowns … [Read more...] about CARES Act Stimulus Did Not “Replace Lost Wages”

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