As with most crises, there are shining stars and black marks. Some complain about the patch quilt of policies being created, while others see method in the madness. At the macro-level, economist John Cochrane notes that it “is not like shutting down and turning on a light bulb. It's more like shutting down and restarting a nuclear reactor. You need to do it carefully, and make sure the parts survive the shutdown intact.” At the micro-level, some have proposed zero-interest loans to firms in Europe to bridge them through the economic shutdown. Others are empowering local businesses. Creative policymakers are throwing out the traditional thick book of rules with ideas like sending unemployment benefits immediately with questions...

TAGS – North America