Nobel Laureate Romer Says Time to Go Big on Borrow and Build

The transcript discusses the economic impact of COVID-19 and the need for effective public health measures. It compares state responses, highlighting the importance of testing and compliance. The conversation shifts to economic growth, emphasizing the need for infrastructure investment and addressing structural issues. The role of expertise in government and leadership's influence on decision-making is examined. Finally, demographic challenges and potential solutions for future growth are explored, stressing the importance of education and policy changes.

What is suggested as a key measure to control the COVID-19 pandemic effectively?

• Relying on herd immunity

• Implementing strict lockdowns

• Frequent testing and isolation

• Focusing solely on vaccination

What is identified as a necessary step for economic recovery post-pandemic?

• Investing in infrastructure and technology

• Increasing taxes

• Focusing on short-term gains

• Reducing government spending

What is a potential benefit of borrowing during the economic recovery?

• Increasing consumer spending

• Building long-term infrastructure

• Funding short-term projects

• Reducing national debt

What challenge is highlighted regarding the role of expertise in government decision-making?

• Lack of qualified experts

• Over-reliance on technology

• Excessive bureaucratic processes

• Diminished respect for expertise

What is a suggested approach to rebuilding trust in expertise?

• Scolding the public for non-compliance

• Engaging with the public to rebuild confidence

• Increasing funding for research

• Relying on international experts

What demographic factor is mentioned as a challenge for future economic growth?

• Aging population

• Declining population growth

• High birth rates

• Increasing immigration

What historical initiative is referenced as a model for educational investment?

• The Marshall Plan

• The New Deal

• The GI Bill

• The Land Grant Universities