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    Valley Oak's Avatar
    Valley Oak
     

    Denmark's Corona Policy Would Avoid World Great Depression

    The Atlantic
    Derek Thompson, March 21, 2020

    Denmark’s Idea Could Help the World Avoid a Great Depression
    While the White House and lawmakers haggle over the terms of an emergency economic-stabilization package, Denmark has gone big—very, very big—to defeat the unprecedented challenge of the coronavirus.

    This week, the Danish government told private companies hit by the effects of the pandemic that it would pay 75 percent of their employees’ salaries to avoid mass layoffs. The plan could require the government to spend as much as 13 percent of the national economy in three months. That is roughly the equivalent of a $2.5 trillion stimulus in the United States spread out over just 13 weeks. Like I said: very, very big.

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