May 28, 2020
Some economists say that the ancient remedy for their plight is still the best we've got: If we want a strong recovery after the coronavirus is contained, we will need mass debt forgiveness. LBJ's James Galbraith is a leading proponent of such a jubilee. The economist argues that when the pandemic has passed, "there will be a vast tangle of unpaid debts that cannot be cleared," and thus "the whole financial system will have to be reset."