Wednesday, May 27, 2020

'Opening-up' the economy

The economy is always "open", says Jeff Bezos. 
econ·​o·​my / plural economies
noun
An economy is a system of making and trading things of value. It is usually divided into goods (physical things) and services (things done by people). It assumes there is a medium of exchange, which in the modern world is a system of finance. This makes trade possible.
In this time of Corona, pundits and politicians talk about the economy like it's a door that can be opened or shut or a light that can be turned on or off with the flip of a switch. Small but aggressive groups of "open-up" protestors, whipped up by D.T. and right-wing demagogues (some armed) are storming statehouses demanding that governors and local officials "turn the economy back on."

In Chicago, Lightfoot haters are on a roll. I'm still looking for the source and context for this quote.


Yes, the mayor is correct. The pandemic hasn't "closed" the economy. Just ask Elon Musk, Mark Zuckerberg, or Jeff Bezos.
America’s billionaires saw their fortunes soar by $434 billion during the U.S. lockdown between mid-March and mid-May, according to a new report.
Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the biggest gains, with Bezos adding $34.6 billion to his wealth and Zuckerberg adding $25 billion, according to the report from Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality.
What Mayor Lightfoot, Gov. Pritzker, and local officials around the country have done is closed the businesses and public places that are potential corona sources.

The numbers prove them right on this.

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