The pandemic paradox : : how the COVID crisis made Americans more financially secure

Title The pandemic paradox : : how the COVID crisis made Americans more financially secure
Names Fulford, Scott Lansing.
Book Number DB115558
Title Status In Process
Language English
Annotation "In March 2020, economic and social life across the United States came to an abrupt halt as the country tried to slow the spread of COVID-19. In the worst economic contraction since the Great Depression, twenty-two million people lost their jobs between mid-March and mid-April of 2020. And yet somehow the finances of most Americans improved during the pandemic-savings went up, debts went down, and fewer people had trouble paying their bills. In The Pandemic Paradox, economist Scott Fulford explains this seeming contradiction, describing how the pandemic reshaped the American economy. As Americans grappled with remote work, "essential" work, and closed schools, three massive pandemic relief bills, starting with the CARES Act on March 27, 2020, managed to protect many of America's most vulnerable. Fulford draws from the Consumer Financial Protection Bureau's "Making Ends Meet" surveys-which he helped design-to interweave macroeconomic trends in spending, saving, and debt with stories of individual Americans' economic lives during the pandemic. We meet Winona, who quit her job to take care of her children; Marvin, who retired early and worried that his savings wouldn't last; Lisa, whose expenses went up after her grown kids (and their dog) moved back home; and many others. What the statistics and the stories show, Fulford argues, is that a better, fairer, more productive economy is still possible. The success of pandemic relief policy proves that Americans' economic fragility is not an unsolvable problem. But we have to choose to solve it." -- Provided by publisher.
Medium Digital Books
Local Subject Nonfiction
Business & Office Management - 650
Economics - 330
LC Subject COVID-19 Pandemic, 2020 - Economic aspects - United States
Call Number 330.9730933 ANF
Publication Info Washington, D.C. : National Library Service for the Blind and Print Disabled, Library of Congress,
Original Publication Recorded from: Princeton : Princeton University Press, [2023] 9780691245348
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