Featured image of post America’s covid job-saving programme gave most of its cash to the rich

America’s covid job-saving programme gave most of its cash to the rich

But the country was ill-prepared to do better | Graphic detail

· 1825 points

But the country was ill-prepared to do better | Graphic detail

Highlights

  • America had little experience with anything approaching that sort of drastic intervention.
  • Its hastily designed scheme sent much of its relief money to people who didn’t need it.
  • But the country was ill-prepared to do better: crafting a targeted policy would have been hard, expensive and slow.
  • European countries did better: governments encouraged struggling employers to keep workers on their payrolls with reduced hours, and then made up some or all of the pay gap.
  • If America hopes to waste less money in future crises, it should plan ahead, says the study’s authors.
  • The author of this piece worked with David Autor, a member of the team who wrote the paper referenced in this article, but took no part in this research.