A Nobel prize-winning economist is calling for more federal government action to combat the coronavirus crisis. He's advocating for making tests universally available and done frequently — as well as mass-producing protective equipment and ventilators.
New York University professor Paul Romer speaks at a news conference after being named a winner of the 2018 Nobel Prize in Economics with professor William D. Nordhaus of Yale University.New York University professor Paul Romer speaks at a news conference after being named a winner of the 2018 Nobel Prize in Economics with professor William D. Nordhaus of Yale University.in 2018 for his research on economic growth. We thought it might be a good time to talk about the future of the economy.
The way he sees it, the current two choices aren't nearly as good. One is continued social distancing until scientists deliver us a vaccine available for widespread use, which could take two years. Waiting that long, Romer says, would mean"the end of the economy and life as we know it." Romer and Garber also want mass production of face masks, gloves, full-body suits, hand sanitizer, ventilators, and everything it takes to make it safer for social interaction."It's just a tragedy that we don't have enough masks and face shields – and god help us – we may not even have enough gloves soon for people to do their work at the hospital," Romer says.
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