I found this on one of the files on my jump drive. I don’t think these really need any more elucidation, because they should be self-evident, so I’m just going to put them out there. This list will probably expand over time.
The stock market is not the economy.
Health care should not be tied to employment.
Taxes do not fund government spending.
There is no shortage of money.
Globalized, just-in-time supply chains are fragile.
A lot of the work we do is pointless and nonessential. Or, put another way, jobs are more about earning the money to live rather than doing socially useful work.
The most important workers in society are often the least paid.
American politicians are corrupt and incompetent.
The notion of the “service economy” is bogus, and always has been.
“Small government” is not an inherent virtue.
A functional social safety net is actually good for business.
Feel free to add on to the list.
BONUS: This is a good perspective from a commenter on Naked Capitialism:
“I’ve been referring to Coronavirus for a while as the world’s most effective stress test of institutions, maybe the biggest such experiment in history. It has unerringly found the weak link in every country and society its hit – whether that weak link being weak institutions, stupid politicians, sclerotic bureaucracies, religious nutcases, institutional groupthink, authoritarian tendencies or whatever. In the US its found not just one, but a whole series of weak links it can exploit. The results are not pretty.”
BTW: I’m still not happy with the blog layout. Does anyone have any suggestions?