Paying for a pandemic

Governments everywhere have been pledging billions of dollars – in some cases, trillions – to help their economies navigate through the COVID-19 pandemic. Much of it has been spent supporting businesses and helping to sustain people’s income. But what happens when we come out the other side. Quantitative easing is now widespread, but there’s still an expectation those central ban purchases will be wound back. So what does that mean for the post-pandemic economy? A question Phil Dobbie puts to Prof Steve Keen in this edition of the Debunking Economics podcast. And are there countries who can’t run up debts? Or companies or industries that can’t operate effectively with the potential debt they have been forced to build up. Just how long will we be paying for the last few months?

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