To understand why the world economy is in grave peril because of the spread of coronavirus, it helps to grasp one idea that is at once blindingly obvious and sneakily profound.
One person’s spending is another person’s income. That, in a single sentence, is what the $87 trillion global economy is.
Read the Full Article Here: https://www.nytimes.com/2020/03/17/upshot/coronavirus-economy-crisis-demand-shock.html
Author: Neil Irwin