Freakonomics Radio 409. The Side Effects of Social Distancing
Mar 19, 2020
Nicholas Bloom, a Stanford economist, discusses the sweeping economic changes due to the pandemic. Toby Moskowitz, a Yale expert in finance, sheds light on the volatile stock market and unexpected industry shifts. Marshall Burke, also from Stanford, highlights how COVID-19 impacts the environment, from air quality to social behavior. They explore the surge in remote work productivity, the future of education, and the balance between social interaction and isolation, revealing both challenges and potential silver linings in this tumultuous time.
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Policy Recommendations for Workers
- Policymakers should consider longer paid leave for full-time employees.
- A safety net for hourly workers is also crucial during the pandemic.
Limited Policy Power
- Monetary and fiscal policies have limited impact in mitigating the economic damage of COVID-19.
- Low pre-existing interest rates and high government debt further hinder their effectiveness.
Investing During Uncertainty
- Avoid emotional investing during market downturns.
- Stick to a long-term investment strategy instead of trying to time the market.