Sure, the expanded but still measly unemployment insurance (the other UI :)) along with one-off pandemic checks is much less than an 1000/month UBI, and yet turned what was ready to be to a far worse recession than the 2009 one until something we quickly bounced back from, got higher real wages for the bottom 50% (or so), and got a bunch of a healthy strikes.
We truly made lemonade out of life's lemons, turning 2020 and 2021 into better years than 2019 or poorer Americans.
It's beautiful that this happened, and yet it's super frustrating had we done the same thing in 2010 or so, we could have prevented much of the lousy growth and other malaise of the past decade.
So yes, pretty dramatic efffect from just a little bit of cash printed into the right hands. (As opposed to regular monetary policy which is far more complicated in its effects, and doesn't seem to work very well at all.)
Ericson2314|4 years ago
We truly made lemonade out of life's lemons, turning 2020 and 2021 into better years than 2019 or poorer Americans.
It's beautiful that this happened, and yet it's super frustrating had we done the same thing in 2010 or so, we could have prevented much of the lousy growth and other malaise of the past decade.
So yes, pretty dramatic efffect from just a little bit of cash printed into the right hands. (As opposed to regular monetary policy which is far more complicated in its effects, and doesn't seem to work very well at all.)