Description
The COVID-19-induced recession will be nothing like any recession, indeed depression, we have seen before.
The difference this time is that the government is not reacting to poor market performance. Rather, it has actively directed business across Australia to close its doors.
Bob Gregory is a former board member of the Reserve Bank of Australia.
He says that the economy will be 'grim for six to nine months' and after that, it is impossible to know.
Bob Gregory is Emeritus Professor at the Australian National University.
Also
Behavioural economist Bob Slonim explains why we need to think more creatively to inspire more downloads of the COVIDSafe app.
Former research director of the prime minister's BETA unit, Bob Slonim is now at Sydney University.
Economics is called the dismal science in part because it is about hard choices — situations where we can't have our cake and eat it too. Last year it seemed as if COVID wasn't one of them. Keeping the virus at bay gave Australia one of the world's lowest death tolls and one of its shortest...
Published 09/16/21
Professor Richard Thaler has spent his career investigating how people really behave – how we save for retirement, what we choose to eat, how we use energy. Through understanding the many reasons for human misjudgement, such as being too optimistic, or facing too many choices, Richard Thaler's...
Published 09/09/21