The 5 Stages of a Covid-19 Command and Control Economy

A reorganization of economic life will be needed to combat the pandemic

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Photo by Martin Sanchez on Unsplash

Make no mistake, we are at war, and our economy will need to adapt.

If you don’t make stuff, there is no stuff

The 5 stages of wartime economic management during the Covid crisis

Stage 1: Social distancing, stay at home orders, and short-term government support

Stage 2: Business failure, civil unrest, and extension of government programs

When economies become severely dislocated, governments can make money as abundant as they like. It is a lot harder to conjure up food, medical supplies, equipment, and other essential goods.

Stage 3: Supply chain stress, rationing of goods, and geopolitical conflict

Stage 4: Mandated re-openings, suspension of labor laws, and government financing of payrolls

Stage 5: Wartime economic organization, debt monetization, and nationalization

Demobilizing the Covid economy

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Writer and analyst based in Melbourne, Australia. Investing, markets, politics, history of economic thought. More at:

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