Restarting The Economy
How do you restart the economy? The reality is that no one really knows. The mostly shutdown of most of the economy for a couple of months is unprecedented. Sure, some parts have shutdown for various reasons (usually natural disasters), but the whole U.S. basically turning off businesses at the same time has never really happened. What Is “The Economy?” Part of the trick to understanding reopening the economy is knowing what we are talking about. In a real way, the economy itself never shut down. Money still changed hands, bills were still paid — or unpaid — stocks still traded, shoppers still bought things online, and certain businesses, like grocery stores, never shut down at all. So, what are we talking about? Most states restricted various in-person businesses. The cliche is hairdressers and barbers. However, there were a lot of other, much bigger, sections of the economy that were shut down. Shopping malls, gyms, and perhaps most importantly, restaurants. Are Restaurants The Economy? Although we take them for granted, restaurants make up an enormous part of the economy, as well as the tax base for cities and states. Unlike a hair salon that employs a few people, restaurants can …