Reopening the economy is a massive experiment
CNNNew York CNN Business — As the United States begins to reopen its economy, debates rage world-wide about how to balance economic hardship with a public health hazard. With no easy answers to the dilemma, Mohamed El-Erian, chief economic adviser for Allianz, says the focus needs to be on learning from the “massive experiment.” “The reality is that we are reopening,” El-Erian said Tuesday in an interview on Quest Means Business.”We need to judge not only the risk we took with respect to infection, but how people will behave, how businesses will behave.” “I don’t know what the right answer is, but…we’ve got to learn and collect data and adapt quickly,” he said. In a separate segment on Tuesday, Nobel Prize-winning economist Paul Krugman said a reopening in the United States “in any significant degree” would lead to a rise in coronavirus cases. “We have flattened the curve but we haven’t crushed it.” The best bet for a fast economic recovery is to continue the lockdown and build out testing and tracing systems across the country, Krugman said.
History of this topic
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