A Computational Lens on Economics

The COVID-19 pandemic is a dual crisis. On one hand, it is a global health crisis with millions of cases and hundreds of thousands of deaths. At the same time, decisions by individuals and governments in response to the pandemic have led to a severe economic slowdown, the likes of which has not seen since the Great Depression in the 20th century. But, as I wrote in a May 2020 column, economics can be argued to be one of the roots of this dual crisis. I quoted William Galston, who wrote: "What if the relentless pursuit of efficiency, which has dominated American business thinking for decades, has made the global economic system more vulnerable to shocks?"