More simple economics of a pandemic

The difference in value to society of getting a vaccine in May 2021 vs March 2022 is huge, but the difference in private profits is not

That is from Luis Pedro Coelho.  And thus there is a great import to accelerating speed, at least in some critical matters.

Brad DeLong makes the point that if you have some downward nominal (or real?) rigidities, you should allow prices to rise in the expanding sectors all the more.

So many of the most important points of economics can be expressed succintly, which makes it well-suited for both blogs and Twitter.

That’s all!


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