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Great question. Most things economic are doable if managed, as war time economic policies have demonstrated. However this great undertaking by definition requires huge centralised intervention and coordination. The economically illiterate Trump advisors/supporters are about to learn a lesson on 'suboptimal' (from their point of view) equilibrium. That is, what they want cannot be achieved through the self-interested actions of individual economic agents within the neoliberal framework. They need chicom/socialist economic managment techniques and policies in order to accomplish it (with still plenty of pain but no collapse). Therein lies the irony. But however it is done, it d require more competittive employees, i.e. longer hours, lower wages, more people doing boring tedious yet highly stressful jobs. Is the population ready and willing? Who knows. Again, the irony is, that it requires American employees to be more Chinese.

May 15, 2020
at
3:20 PM