Virus Causing Permanent, Lasting Damage to Jobs: Economist Shepherdson

The video discusses the economic impact of delayed reopening due to a pandemic, highlighting permanent job losses, especially in the service and consumer goods sectors. It explains how deferred purchases and reduced service sector activity lead to lasting economic damage. The video emphasizes the need for government intervention through stimulus packages to fill the demand gap left by the private sector. Despite potential government actions, the video predicts a slow economic recovery with some irreversible damage.

What role does Congress play in addressing the economic gap caused by the pandemic?

What are the long-term implications of the dislocation in the business sector?