Home » Saez and Zucman on the “liquidationist mentality” that grips both left and right

Saez and Zucman on the “liquidationist mentality” that grips both left and right

March 30th, great opinion piece in the NY Times – “There is nothing efficient in the destruction of businesses that were viable before the virus outbreak….Bankruptcies redistribute income, but in a chaotic and opaque way….Without strong enough government support, many small businesses will have to liquidate. The death of a business has long-term costs: The links between entrepreneurs, workers and customers are destroyed and often need to be rebuilt from scratch.

This is exactly the problem .. we need to prevent business failures