This article is part of a series in which leading commentators and policymakers give their views on alleviating the devastating global slowdown
The writer is professor of finance at the Chicago Booth School of Business and author of ‘The Third Pillar’
Policymakers everywhere now understand no country is immune from coronavirus. The response in industrial countries, which finally seems to correspond to the size of the challenge, is to contain the virus’ spread, limit the massive disruption to households and businesses and position the economy best for an eventual recovery. As people distance themselves physically, and business activity slows, governments are stepping up to fill the gaps. This is as it should be.
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