What Real Wars Do (And Don’t) Teach Us About The Economic Impact Of The Pandemic
The past is not prologue, and the comparisons to war have limits and detractors. Still, wartime analogies can be useful for an understanding of the potential economic consequences of this crisis. Wars last longer than downturns, and the economic cycle in which we suddenly find ourselves is unlike any peacetime cycle we have experienced in the past half century—including during the Vietnam War and in the aftermath of 9/11.
