Lessons from the past on how to revive the US economy after COVID-19

Examining what worked in response to previous crises can help policy makers as they make plans to revive economic activity.

 
This article was a collaborative effort by Wan-Lae Cheng, Cameron Davis, Andre Dua, Mike Kerlin, Jonathan Law, Neil Vakharia, Chun Ying Wang, and Ammanuel Zegeye, representing views from across the Public and Social Sector Practice.

 
As policy makers grapple with the humanitarian and economic impacts of COVID-19, they are using a battery of interventions to help individuals and businesses. Yet no event since World War II has caused an economic downturn of quite such scale or scope, and so leaders are deeply uncertain about what will work.

In this article, we aim to help US policy makers understand the landscape of economic interventions that other leaders have taken to overcome crises. We first highlight lessons learned during past—if less severe—crises. Then, we review compelling interventions that policy makers have implemented in the current crisis. We draw from US and global examples throughout to showcase a broad range of innovation and response. While recovery from this crisis involves both public-health and economic challenges, we focus in this article on economic actions from which policy makers can draw inspiration in their own planning.

Συνέχεια ανάγνωσης εδώ

Πηγή: mckinsey