We're always telling people the problem is that just there's not enough stuff to go around.

The problem is always that we can't afford it in some way.

And they can point to financial metrics to say, you know, we'll run out of money as sort

of the implication of a lot of this conservative policy making.

And for Keynes, you just say, you're not going to run out of money.

You can get the money from anywhere.

The question is whether you're going to run out of resources.

Hello and welcome to Wise.

This is happening with me, your host Chris Hayes.

You know, one of the things that's crazy about there's a lot of things crazy about the

last seven months, but I think it's fair to say that short of war, it's hard to think

of an example of like major economies, quote, shutting down in the way that they have over

the last several months.

Like it's really hard to find analogs.

There have been financial crises.

Those are actually fairly common throughout history.

Even before there was sort of modern capitalism and central banks, that there would be sort

of boom and bus cycles.

And there would be massive spirals of panic and people would pull back.

And we've seen those happen before throughout, you know, for hundreds of years.

We've seen contractions.

We've seen like war and disease taking huge effects.

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