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Deep Background with Noah Feldman

The Economic Impact of COVID-19

Deep Background with Noah Feldman

Pushkin Industries

News Commentary, Government, News

4.4848 Ratings

🗓️ 16 March 2020

⏱️ 30 minutes

🧾️ Download transcript

Summary

Stefanie Stantcheva, Professor of Economics at Harvard, discusses the economic harms of COVID-19 and measures governments can take to soften the blow of a recession.

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Transcript

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0:00.0

Pushkin.

0:08.7

It's hard to read the news these days without asking yourself, how did we get here?

0:13.8

Fiasco is a history podcast for the co-creators of Slow Burn.

0:17.6

In our first season, Bush v. Gore, we examined an unmistakable turning point in American

0:22.1

politics, the 2000 election, which resulted in a high-stakes stalemate, ended with one of the most

0:27.7

controversial rulings in Supreme Court history. So if you're trying to make sense at the present

0:32.0

moment, check out Fiasco, Bush v. Gore. Listen on theHeart Radio app, Apple Podcasts, or wherever you listen to podcasts.

0:40.5

From Pushkin Industries, this is deep background, the show where we explore the stories behind the stories in the news.

0:48.2

I'm Noah Feldman. We're deep into coronavirus world right now. It's the only news story that anyone seems to be interested in.

0:57.5

And it's also obsessing most of us, myself included, on a minute-to-minute basis.

1:03.4

We spent a lot of time so far on the show focusing on medical aspects of the crisis,

1:08.6

and that's, I think, entirely appropriate given where we are

1:11.5

in the cycle. But it's also not too soon, I think, to start talking about the economic consequences

1:17.2

of what's happening and what's likely to happen. And that's particularly pressing because

1:22.8

Congress and the president have agreed on a relief plan to address coronavirus, one that is

1:30.0

intended to take a stab at slowing down the harms economically that people might be facing in real

1:36.8

time, and also perhaps at softening the blow of recession that seems to be headed our way.

1:43.4

In order to make some sense of what economists think

1:47.1

about the set of problems and how they can be solved, I knew I wanted to talk to Professor Stephanie

1:53.2

Stancheva of the Harvard Economics Department. Professor Stanchova is what economists call

1:58.8

technically a hot shot. She's extraordinary scholar,

2:03.6

tenured pretty much right away upon joining the Harvard University faculty,

...

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